First Bank of Nigeria has terminated over 100 employees following the revelation of a N40 billion fraud orchestrated by Tijani Muir Adeyinka, a manager in the operations team, Eko Hot Blog reports.
EDITOR’S PICKS
- ‘Demonstration Continues’ – Lagos Protest Organizers Declares
- ‘FG’s Policies Major Cause Of Hardship’ – Obaseki Reacts As Edo Protesters Worship On Street
- LSMTL Targets ISO/17025 Accreditation for Global Standards
This discovery, made public in May by TechCabal, highlighted how Adeyinka exploited his position to authorize chargebacks to accounts he controlled over a span of two years, going unnoticed until early this year.
By July, at least 120 full-time and contract employees from the bank’s operations department received termination letters.
Among those dismissed was the head of transactions at the time, indicating the extent of the internal fallout.
The bank initially sought to handle the situation discreetly, suspending several operations team members indefinitely.
However, the response intensified as the scandal became widely known. Employees were interrogated by the Nigeria Police Force and detained at the Lions Building for several hours before being released on bail.
FURTHER READING
- Tragic Clash In Bauchi: Youth Shot Dead By Nigerian Soldier
- Protest Against Govt Policies Not Peculiar To Nigeria – Ganduje
- Police Warn Cultists Against Celebrating 8/8 In Osun
Restrictions were placed on their personal accounts, barring access to any non-First Bank accounts.
This major internal upheaval also led to the abrupt resignation of First Bank’s CEO, Dr. Adesida Adeduntan, in April, eight months before his tenure was due to end.
Click here to watch our video of the week:
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
