Union Bank Top Employees Docked For N.661b Fraud

Two senior members of staff with a Union Bank branch in Kano are presently cooling off in the custody of the Economic and Financial Crimes Commission, EFCC. The two bankers, Samuel Obende and Rabiu Alhasan Dawaki, were apprehended by the agency for allegedly stealing over half a billion Naira.

A statement by the EFCC revealed that both allegedly stole the sum of N661 million from their employers.

Obende, a Branch Manager, and Dawaki, Head of Operations, worked at the Bello Road Cash Centre of Union Bank Plc in Kano, and were said to have abused their positions to perfect the alleged crime.

“They were saddled with the responsibility for the evacuation and supplying of cash to about 17 branches of the bank in Kano, Katsina, Kaduna, and Jigawa States,” EFCC stated, adding that, “In the course of carrying out their duties, they fraudulently conspired and stole the sum N661 million.”

“In an effort to conceal the illegal act, they fabricated accounting entries, which deceitfully showed that all the monies were sent to the respective branches,” the statement also said.

Meanwhile, the EFCC concluded that, “Investigation into the fraud continues.”