Nigeria’s Anti-Corruption Agency, the Economic And Financial Crimes Commission (EFCC) has arrested Ismaila Yusuf Atumeyi, a Politician in Kogi State and recovered the sum of N326million and $140,500 cash in the operation.
The Anti-graft Corruption Agency disclosed, in a statement released on its official facebook page, that the Politician, Ismaila Atumeyi who is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly was nabbed on Sunday, October 30, 2022.
The Agency stated that Ismaila Atumeyi was arrested following months of investigation by the agency into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4 billion.
EFCC added that Atumeyi was arrested alongside one Joshua Dominic, who is a suspected serial fraudster. Following the arrest, the agency conducted a search on his home in Morgan Estate, Ojodu and a total of $470,000 USD was recovered.
The Anti-corruption Agency gathered that one of the suspects, Joshua Dominic has been arrested for fraud numerous times. The suspect is believed to have assisted the Kogi Politician, Ismaila Atumeyi to perfect the hacking plan through one Abdumalik.
Photo of the sacks of money and vehicles recovered by the EFCC
A former bank employee, Abdumalik Salau Femi was also arrested by the EFCC in connection with the fraud. Femi is suspected to have supplied information that facilitated the attack on the bank by the suspected fraudsters.
Explaining how the suspects laundered the money, the agency disclosed that the syndicate laundered roughly N880 million through the account of Fav Oil and Gas limited. The money was subsequently converted to dollars through some Bureau de Change Operators. The suspects also allegedly purchased high-end cars with the money.
“The syndicate allegedly moved N887 million into the account of Fav Oil and Gas limited, from where the monies were paid to several Bureau de Change Operators and some auto dealers for exchange into United States Dollars and purchase high-end cars” –the statement partly read.
The Agency added that roughly N326 million, $610,500 cash, two range rover luxury SUVs were recovered from the two suspects arrested in Abuja. The suspects will be charged to court as soon as the investigation is concluded, the Agency stated.
The Agency urged Bureau de Change Operators to be wary of currency hoarders who would attempt too offload the currencies they had illegally stashed away in the wake of the recent announcement by the Central Bank of Nigeria to redesign some naira notes.
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