Yesterday, Kato Ifrahimu Nyam and Godwin Odali, both staff of a new generation bank, were nabbed fo conspiring to defraud the bank to the tune of N3.6bn. They planned pulling it off with an e-payment mandate purportedly from
Federal Ministry of Agriculture and Rural Development ( FMARD ). On June 25, they, through their cronies submitted an e-payment mandate of N1.4bn to Zenith bank and Access bank Plc.

The banks, sensing a foul play after noticing some abnormalities on the e-payment mandate discreetly contacted the Ministry of Agriculture for confirmation and authentication of the document. A response from the Ministry showed that, no mandate was sent to the banks. Hence, the EFCC was contacted for investigation. While that was on, the 2 submitted another e-payment mandate of N1.398bn to Zenith bank, Abuja branch though one Abiola Oloko, an accomplice.

Oloko was arrested by EFCC operatives. He confessed that the 2 bank staff gave him an identity card of FMARD to answer the false name “Femi Babatunde.”….. cuz his surname, Oloko, cld, in English, be translated as “d owner of penis,” n dt might make ppl curious n affect d smooth sailing of d runz…… Credit: S.R

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