TheMoniker:

Let me tell you this story (True story o)
My friend was working at Access Bank customer care on the Lagos Island, having worked for 7 years without promotion (100k salary) they guy kinda tilt towards his family for help and some how he bought his first car at 36 years.
It shouldn’t surprise you that the guy was layed off!
Reason: “The salary we are paying you can’t enable you buy a car, you are living above your earning”
The Nigerian banks are taylored in a way that no matter how long you serve them you can’t make it so most of them have resulted into defrauding the banks.
How do you want someone seeing millions daily to earn 50k monthly? Are you so unfortunate!!! Even if him no steal money then go still sack am.

Another story
My SU brother toiled for UBA not having time for his family (Monday to Saturday) with masters degree, he worked for them for almost 8 years, that faithful day when him reach office them just hand am sack letter. Up till date he’s still miserable na him wife dey feed am. Will such person have another opportunity and not defraud?

To be honest theres no excuse.

Why not leave there if you feel you arent progressing. Instead of having efcc chase you down.

Who will lose 8 million and keep quiet( 8 million in account vanish ) not hard cash glamour government people do. Unless he stole it you will be found out.

No need.

czarina:
Not good at all. Op, thank you for this.

For this, you just won a premium massage session by trained professionals. It's on the house. The rest of you can check my profile if you want.

Do you still give happy endings?

My Tweet@ imodola to UBA this afternoon:
Hello! Is it a must everyone cheats? I just recieved 3 messages each deducting #52 for Card maintenance for MAY. Does that sound logical? You know that was how someone sent me #5000 and the message confirmed it but still in the same message you wrote, balance: #4600. Don't let me swear for you oo! Better refund my money now. My parents are struggling to sponsor me but it's now obvious you're an official scam. I await your response. That will determine if you should be cursed.
The more people rationalize cheating, the more it becomes a culture of dishonesty. And that can become a vicious, downward cycle. Because suddenly, if everyone else is cheating, you feel a need to cheat, too.
—Stephen Covey

armadeo:


To be honest theres no excuse.

Why not leave there if you feel you arent progressing. Instead of having efcc chase you down.

Who will lose 8 million and keep quiet( 8 million in account vanish ) not hard cash glamour government people do. Unless he stole it you will be found out.

No need.

You know who Wale Babalakin is? You know about Lagos-Ibadan first contract awarded? Bi Courtney?
Cecilia Ibru nko? Erastus Akinbola? Oh you must be living in the Nigeria Stone Age to believe EFCC as an organization is working in the interest of Nigerians.
This NFF guy nko?
Just don’t be unfortunate to steal less than 10million, if you can steal above that then you’ll buy off anything called justice.

I made the bank my first choice after not being able to cope with Gtbank long line... With this kinda news hmmmmmnnnn.

czarina:
Not good at all. Op, thank you for this.

For this, you just won a premium massage session by trained professionals. It's on the house. The rest of you can check my profile if you want.

how much is massage with happy ending?

vivalavida:

Do you still give happy endings?

dont be a pervert!

This pst wouod have been taken seriously if you had done your research n the prevalent trend in the industry, rather than single out one bank.

This looks like a sponsored editorial.

If you are truely worried, then you would know that these trwnd is Industry wide and must be addressed as such.

Without putting in any effort, a few heartbreaking stances are listed below.

Call for emergency in the Industry and stop target attacks.

https://www.nairaland.com/5187397/first-bank-vs-dispatch-rider#78386369

https://www.nairaland.com/5177864/shocker-17600-nigerians-lost-n1.9#78239114

https://www.nairaland.com/5177404/banker-lands-efcc-net-over#78231897

https://www.nairaland.com/5171385/cbn-n2b-stolen-fraudsters-target#78139189

My Colleague’s wife working in UBA, Olu Obasanjo Branch, Portharcourt was sacked after working for the bank for 5years on the excuse that massive fraud was committed in the branch by 3 female staff. The fraud was in hundreds of million. The fraudsters were arrested but the case was never allow to filter into the air to protect the image of the bank. Some other staff who were deployed to take over operations from other branches also are still suffering from what they did not know as they were/are not promoted even though they are not in the branch when the fraud occurred

orisunmibare01:
how much is massage with happy ending?

We don't do happy ending but you're happy at the end

OP you can actually be sued for this your half baked journalism.The defaulters were duly arrested, plus other banks have their own cases of fraudulent activities so I wonder why you're singling out just union bank

czarina:
We don't do happy ending but you're happy at the end

so what makes us happy at the end if we dont get the happy ending?!

Hope this guy is not been paid to rubbish the Bank by its competitors

macaranta:
OP you can actually be sued for this your half baked journalism.The defaulters were duly arrested, plus other banks have their own cases of fraudulent activities so I wonder why you're singling out just union bank

It just like writting a piece on corruption and put Nigeria as a case study so op is not saying they the only bank try and get his point

chisiudeh:
Ur head is there jarey

gnykelly:
I made the bank my first choice after not being able to cope with Gtbank long line... With this kinda news hmmmmmnnnn.

fear union bank. they are owned by capital alliance so they can get away with most of their shady dealings

oh

Burshh:
You obviously have something against the bank. Fraud will always be around banks as long as banks remain to be about money. Do not make this about a bank,Perpetration of fraud happen around all banks. .... To think Taint bad Union with these few examples belittles your analytical capacity.

Here is the topic: "Fraud In Corporate Nigeria: Union Bank As A Case Study."

Hope it is clear?

kirajustice:
I have closely Observed that in Recent times, Banking Institutions in Nigeria have been involved in sort of Fraud or the Other, From First Bank to Access to Polaris but one that struck my attention was the number of Fraud cases(Insider fraud) at Union Bank.

Upon research, Several articles online reveal that some management and staff of Union Bank have consistently defrauded millions of Naira belonging to their own depositors. The internet is filled with stories of staff of the more than 100-year-old financial institution being involved in different kinds of fraud ranging from alleged gross ethical violation, brazen theft, and many more financial malpractices.

To back up these observations, here are a few reports published in the past of such incidents involving the management and staff of the bank, culled from various media outlets across Nigeria;

1. N8.8 MILLION FRAUD BY SALLY DAGUN:

Mrs. Dagun, the wife of a pastor and staff of Union Bank, stole the sum of N8.8Million from one Mr. Mansur RIMI, a customer of Union Bank in Abuja. According Mr. Mansur, he discovered his money was missing from his account with Union bank, he immediately summoned Mrs. Dagun, his account officer, over.

During the interrogation, Mrs. Dagun, who later got to discover that his invitation was in connection with the missing fund, decided to confess, saying that she has been stealing his money since September, 2017, adding that the total amount she withdrew from Mr. Mansur’s account from last year till date is N8.8Million.

It was also gathered that Mrs. Dagun, apart from being the Relationship Manager at Union Bank, Dede, she is happily married to a pastor of an undisclosed church, having three kids with him.

2. UNION BANK EMPLOYEE HELD FOR N8.6 MILLION FRAUD

A former banker with the Union Bank of Nigeria Plc, Mr. Kazeem Alli, was remanded in prison custody by Justice Chuka Obiozor of the Federal High Court, Lagos in October 2018 over alleged conspiracy, impersonation and internet fraud amounting to N8.7 million.

Alli was arraigned before the court by the Economic and Financial Crimes Commission (EFCC).

Alli, according to the EFCC, had on May 8, 2018, while still working as a staff of the bank, failed to obtain proper data of a bank customer in processing Unionmobile in respect to Account No. 0010807900.

The accused is also alleged to have impersonated one Alexander Cherembem Okan and fraudulently withdrew the sum of N8. 677, 907.00 million from the said account No. 0010807900.

3. UNION BANK STAFF DEFRAUDS CUSTOMER OF N116 million

The Economic and Financial Crimes Commission (EFCC) on Tuesday, December 19, arraigned the duo of Temitope Oluwasanmi and Augustine Olayinka before Justice Mojisola Dada of the Lagos State High Court sitting in Ikeja on a seven-count charge bordering on conspiracy, stealing and fraudulent diversion of funds to the tune of N116m.

The first defendant, Temitope Oluwasanmi, an employee of Union Bank of Nigeria (UBN) Plc, was arrested by operatives of the EFCC sometime in October 2017, following a petition received by the Commission from the bank.

Oluwasanmi is alleged to have diverted the sum of N116 million to the savings accounts of three individuals, who are said to be his friends: Augustine Olayinka (account no.: 0050657770), Oginni Opeyemi ( account no.:0046585982) and Ogbaro Oluwaseyi (account no.: 0061074951).

4. UNION BANK HEAD OF OPERATIONS INVOLVED IN N450 MILLION FRAUD (JAILED)

A former Head of Operations at the Head Office of Union Bank Plc in Marina, Lagos, Mr Paul Onwughalu, was sentenced to three years imprisonment for his involvement in fraud to the tune of N450 million.

Mr Onwughalu was arraigned by the Economic and Financial Crimes Commission (EFCC) in February 2014 before Justice S.S. Ogunsanya of the Lagos High Court, Ikeja on a four-count charge bordering on failure to conduct due diligence in financial transactions.

5. TWO UNION BANK MANAGERS ARRESTED FOR N661 MILLION FRAUD (stolen from customer transactions)

The Economic and Financial Crimes Commission (EFCC) has arrested two Union Bank of Nigeria managers for allegedly stealing the sum of N661million from the bank.

The commission said in a statement released by its spokesman, Wilson Uwujaren in Abuja on Tuesday said that the duo of Samuel Obende, a branch Manager and Rabiu Alhasan Dawaki, Head of Operation stole the money in the course of their daily operations.

According to the EFCC, the two managers, who are both serving at a Union Bank in Kano, reportedly abused their positions to perfect the fraud.

The two men who were saddled with the responsibility of evacuating and supplying cash to 17 branches of the bank in Kano, Katsina, Kaduna and Jigawa States, conspired and made away with the said amount without the knowledge of their employers.

6. EMMANUEL NWUDE

Unknownst to most people, One of the Biggest Fraudsters to ever walk the face of the Earth, Emmanuel Nwude, who committed the Third largest Fraud in Banking History, is a Former Director at Union Bank. Nwude is known for defrauding Nelson Sakaguchi, a Director at Brazil's Banco Noroeste based in São Paulo of $242 million, $191 million in cash and the remainder in the form of outstanding interest between 1995 and 1998.

From my investigation, this bank is sort of like a pseudo-haven for fraud because there is a 'pattern', its very disturbing and makes one wonder what the CBN is doing in terms of making sure customers deposits are protected from Banks like this.

REFERENCES:

https://www.nairaland.com/4849297/sally-dagun-union-bank-steals

http://saharareporters.com/2017/12/19/efcc-arraigns-banker-another-n116m-fraud

https://businesspost.ng/2018/05/24/union-bank-head-of-ops-jailed-for-n450m-fraud/

https://en.wikipedia.org/wiki/Emmanuel_Nwude

http://pointblanknews.com/pbn/exclusive/criminal-fraud-places-union-bank-serious-financial-jeopardy/

https://www.rablowoods.com/2019/01/10/efcc-arrests-two-bank-managers-n661m-fraud/

Many many things!! Only 1% fraud discover so far in banking sector

I can never forget Union Bank in a hurry. Paid my school fees in 2nd year but when I went to do clearance after graduation they told me that my name wasn't among the ones sent by Union bank as one of those that paid. Later went to the bank and discovered we were many having the same issue. All our efforts to retrieve our money from union bank proved abortive and the school refused to intervene on our behalf. We all had to repay the school fees again. Later we learnt that one of their staff committed the fraud which they discovered and sacked the staff even before we came for the complaint yet they refused to own up and accept responsibility. Useless bank.

Union bank strong sha, sheby naim dem say one of their very very top director and a top politician almost liquidated some years ago. Yet, dem say Nigerian government sell Nigerian property give the director and e de milk Nigerian people bad now without service. Nigerians in authorities are wicked and greedy.

What are their requirements, hope age no follow cos I be 47yrs old

TheMoniker:

Let me tell you this story (True story o)
My friend was working at Access Bank customer care on the Lagos Island, having worked for 7 years without promotion (100k salary) they guy kinda tilt towards his family for help and some how he bought his first car at 36 years.
It shouldn’t surprise you that the guy was layed off!
Reason: “The salary we are paying you can’t enable you buy a car, you are living above your earning”
The Nigerian banks are taylored in a way that no matter how long you serve them you can’t make it so most of them have resulted into defrauding the banks.
How do you want someone seeing millions daily to earn 50k monthly? Are you so unfortunate!!! Even if him no steal money then go still sack am.

Another story
My SU brother toiled for UBA not having time for his family (Monday to Saturday) with masters degree, he worked for them for almost 8 years, that faithful day when him reach office them just hand am sack letter. Up till date he’s still miserable na him wife dey feed am. Will such person have another opportunity and not defraud?

Excuses.
These excuses shouldn't be given. Imagine Your account officer had forged your signature to siphon your money ( #100 million ) and had deactivated your alert.
Then the bank sacks him due to another fraud he committed, then by the time U visit the bank to get your two years fix deposited liquidated, You get to know U are koboless.

It's not funny bro.

AntiBrutus:
Are they recruiting?

Alexrayz:




It just like writting a piece on corruption and put Nigeria as a case study so op is not saying they the only bank try and get his point

They're a brand, calling them out like that can hurt their reputation.

We are all looking for money and it is kept in the bank. Fraud naturally hovers around any location where the treasury(money) is kept.

Whether insider dealing or external dealings, sumtin must happen. Moreover, only published stories is what u see. Same are happening in other places.

Some insider info or visit to efcc will shock you.
Some banks manage the issue because of reputational issues like this so you don't hear them.

Burshh:
You obviously have something against the bank. Fraud will always be around banks as long as banks remain to be about money. Do not make this about a bank,Perpetration of fraud happen around all banks. .... To think Taint bad Union with these few examples belittles your analytical capacity.

Please open your own thread of other banks defrauding customers.
Today, we are talking about union bank.

Please if you have any personal grouse with Union bank man up and handle it the right way. Not coming here to try to daint the image of an institution that is very important in Nigerian economy.

All of you saying the OP has something against union bank una no dea read? He was only using the bank as a case study ah ahFraud In Corporate Nigeria

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