₦airaland Forum

Operatives Of The Economic And Financial Crimes Commission have arrested a banker, Kamaluddeen Lawal, and three businessmen for recycling and manipulating the contents of the naira notes.

Lawal was arrested alongside Ismail Ilu, Lamido Bala and Abba Mohammed at Unity Road, Kantin Kwari Market in Kano State.

A statement on Tuesday by the EFCC’s Head, Media and Publicity, Dele Oyewale, said the suspects were arrested following an intelligence on their activities.

He said, “Operatives of the Kano Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested a banker, Kamaluddeen Lawal and three businessmen for recycling and manipulating contents of naira notes. The other suspects are Ismail Ilu, Lamido Bala and Abba Mohammed.

“The suspects were arrested at Unity Road, Kantin Kwari market, Kano following credible intelligence on the activities of some individuals suspected to be trafficking huge sums of money in cash.“

Oyewale stated that the investigation revealed that the suspects obtained mutilated naira notes from banks and, with the support of the arrested banker, redeposited some of them, adding that the N7.5m was recovered from the suspects upon their arrest.

He said, “Investigations showed that the suspects specialised in obtaining mutilated naira notes from various banks with the sole purpose of removing a few notes from each bundle and depositing them in their bank accounts with a particular bank where their banker accomplice will receive the money as the original amount.

“The suspects were perpetrating the fraud by going to their respective banks and asking for a certain denomination (in this case, N200 notes) and carefully removing a few notes from each bundle. They would then take it to their accomplice at the bank who would collect the money and make entries as filled in the tellers without counting them on the agreement that they would later give him his share of the money they removed.

“At the point of arrest, a total sum of N7,500,000 was recovered from them. The suspects would be charged to court upon conclusion of investigations.”

Source: https://punchng.com/efcc-arrests-kano-banker-three-others-for-mutilating-naira-notes/

What Is Really Happening, Cha E, Hunger Dey...

Nice move

OK!!

Aboks:
Nice move

Do You Stay In Kano?

Make them join Bobby chop watery beans for the remaining two months.

Omo people are cashing out without sweat

Goodluck to then, nothing was said about the bullion van man before ascending the throne. Deal with rhe corrupt politicians also by then we would know that you're serious

See format

Reminds me of my days as the cash officer. Some people brought a sack of mutilated notes to deposit. After much ado about nothing, we agreed to go ahead with the deposit. They thought we won't count it since it won't pass through the machine, I just told them to wait back and when we were through with other customers, I will get all my note counters and tellers to join hands and reconfirm the cash. They declined and left with their cash. Mutilated notes and weak lower denominations are usually hard to confirm.

But if is a Yoruba Muslim now, EFCC will show their face directly

They were just hustling.

This government should stop chasing shadows

Crime no dey pay,Dem no go hear

Kano!
The owners of Nigeria
Ruling the country from far North

Brendaniel:
Just watch as the comments on this thread will focus on the crime and not the tribe, just switch the location and the names to southeastern names and watch the comments focus on the tribe and not the crime ....

Oil soup doesn't exhibit common sense

EFCC is looking for trouble. They left Yahaya Bello that stole 80 billion to be chasing small misdemeanors.

Shebi na fulani men, na them get this country....they will soon be released!

9ja

CRIMINALS IDENTITY WON'T BE EXPOSED IN SHITHOLE NATION

gokay11:
Omo people are cashing out without sweat

shithole citizen cannot separate from crime

Go and arrest corrupt politicians,

one of the reason why BEANS is so costly cos these BASTARDS Eat FREE BEANS in PRISON from Taxpayers money.


KILL them all

I think some bankers are working with these POS operators to give the mutilated naira notes at discounted rate. You will hardly withdraw money from POS these days & get a decent naira note. They are always mutilated.

Is it a rule that bank tellers/cashiers don't count and confirm deposits from smaller denominations or mutilated notes?
Cos this scam doesn't add up, As a banker, if u sign off that money is complete and accept the deposit without confirming it, aren't u setting urself up?