The Nigeria Police Force has initiated an investigation into Providus Bank Limited, several of its officials, and another commercial bank concerning t
The Nigeria Police Force has initiated an investigation into Providus Bank Limited, several of its officials, and another commercial bank concerning their alleged involvement in a N1 billion fraud scheme.
According to sources, officials from these banks are being closely examined after a suspicious transfer of approximately N1 billion by one Shamsudeen Ahmed, a bureau de change operator based in Abuja. Ahmed had attempted to purchase $1 million from Dubai, only to find that the money had disappeared under suspicious circumstances.
Detectives are scrutinizing the involvement of bank staff in the unauthorized transfer. The suspects are accused of providing three different account details for the transaction, which Ahmed subsequently discovered to be part of a scheme to defraud him.
In a petition submitted by Anthony Odule on behalf of Ahmed and addressed to the Inspector General of Police, the complainant reported being deceived on December 8, 2023, by individuals identified as Gambo Dahiru, Ibrahim Mohammed, Shaibu Mohammed, and Francis Azubuike (also known as Frank). The suspects had assured him of a legitimate $1 million sale from Dubai.
The petition details that Ahmed transferred funds to three accounts: N830 million to Ushaib Global Investment Limited, account number 5400393231 at Providus Bank; N330 million to Yadiz Oil and Gas Plc Nigeria Limited at another commercial bank; and N10 million to A&M Technology Red Set, account number 5404168804 at Providus Bank. Upon discovering the scam, Ahmed contacted the banks, requesting that they halt the payments and refund the money.
“One bank has refunded part of the money, but the other has refused, claiming that the account holders provided value for the funds. Despite my requests to freeze the accounts, the bank has taken no action to prevent this fraud,” Ahmed stated.
Police sources have confirmed that bank officials have been interrogated, resulting in the arrest of six suspects and the recovery of some funds.
