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Nigeria police arrest 4 bank staff over alleged fraud, money laundering

Published on March 24, 2025 at 07:36 PM

Lagos State Police Command has arrested four bank staff over their alleged involvement in a sophisticated fraud and money laundering scheme that diverted over £138,924 (over N270 million) from international airline accounts.
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The command’s spokesperson, Benjamin Hundeyin, made this disclosure on Monday during a press briefing at the state police headquarters in Ikeja.

Hundeyin said the suspects conspired to siphon funds from domiciliary accounts into personal accounts before redistributing them to multiple destinations.

“The fraud was uncovered when the affected bank detected unauthorized transactions and alerted the police.

“Subsequent investigations led to the arrest of the following suspects: Oluwatobiloba Olaleye, male, aged 27, was arrested on March 12, 2025, in Ogun State. A Toyota Camry 2012/2013, suspected to be a proceeds of crime, was recovered from him,”; he said.

According to the police image maker, further investigation led to the arrest of Austin Alfred, male, aged 38, the Supervisor of the Trade Services Department, and Jude Uzobuaku, male, aged 36, a processor in the same department.

Both allegedly facilitated the illegal transfer of funds to foreign accounts.”;

Police investigations disclosed that the stolen funds were initially funneled into an account belonging to one of the suspects before being transferred to multiple other accounts, making it harder to trace.
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Meanwhile, the police have urged the public to report suspicious financial transactions, emphasizing their commitment to cracking down on economic crimes.