The Economic and Financial Crimes Commission (EFCC), operatives from its Benin Zonal Directorate have apprehended a man identified as Olawole Sunday. He is accused of engaging in fraudulent activities that involve buying bank account information from individuals and using them to defraud unsuspecting victims.
The EFCC explained that Sunday had developed a system where he recruited young people to open bank accounts, promising them between ₦25,000 and ₦50,000 for each one. In return, he would collect all necessary banking information from them, including their ATM cards and full account details. These details were then allegedly used for illicit financial transactions.
The investigation took a serious turn when a complaint was made concerning a fraudulent transaction of ₦2 million. This money was said to have been taken from an individual under the false promise of engaging in foreign exchange trading. The transaction had been conducted through an account belonging to one Uyi Eghosa.
When questioned by investigators, Eghosa said he was unaware that his account had been used in any fraudulent activity. He told officers that he had given Sunday access to his account and handed over his ATM card after receiving ₦25,000 from him. His arrest and cooperation led to the identification and eventual arrest of Sunday.
In a statement released by the EFCC’s Head of Media and Publicity, Dele Oyewale, he noted, “Sunday allegedly employed the account details of one Uyi Eghosa to defraud a petitioner of the sum of N2 million under the guise of trading in forex.”
Oyewale further noted that Sunday confessed to the crime following his arrest. The commission has indicated that he will face formal charges in court as soon as the ongoing investigations are wrapped up.
The EFCC also used this case to remind the public, especially young people, about the dangers of selling or giving out their bank account details. It is not only unlawful, but it can also lead to them being unknowingly implicated in serious financial crimes.
