First Bank Manager Arrested in Osogbo for Alleged N650 Million Fraud

A 47-year-old bank manager, Adeniyi Talabi, has been arrested by the Osun State Police Command in Nigeria for allegedly defrauding 35 victims of N650.8 million through a fraudulent scheme called 'PROOF of FUNDS', highlighting the growing concern of financial fraud in the country and the need for stricter regulations to protect citizens." This description focuses on the primary topic of financial fraud, the main entity of Adeniyi Talabi, the context of Osun State in Nigeria, and the significant action of his arrest. It also provides objective and relevant details that will help an AI generate an accurate visual representation of the article's content, such as a image of a person in a business setting, a Nigerian flag or map, and symbols or icons related to finance and fraud.

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Aqsa Younas Rana
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First Bank Manager Arrested in Osogbo for Alleged N650 Million Fraud

First Bank Manager Arrested in Osogbo for Alleged N650 Million Fraud

The Osun State Police Command has arrested Adeniyi Talabi, a 47-year-old manager at a First Bank branch in Osogbo, for allegedly defrauding 35 victims of N650.8 million. Talabi, a resident of Army Barracks Area, Kelebe, Iragbiji road, Osogbo, was apprehended by anti-crime detectives following a tip-off.

Why this matters: This case highlights the growing concern of financial fraud in Nigeria and the need for stricter regulations to protect citizens from such crimes. The outcome of this investigation and subsequent legal proceedings may set a precedent for future cases of financial fraud, influencing the country's efforts to combat corruption.

According to the police spokesperson, Yemisi Opalola, Talabi is a serial fraudster who obtained money under false pretenses through an illegal product called "PROOF of FUNDS." "The Osun State Police Command under the leadership of CP Mohammed Umar Abba in its efforts to rid off criminal elements from the State has arrested a serial fraudster one Adeniyi Sunday Talabi 'm' 47 years, a resident of Army Barracks Area, Kelebe, Iragbiji road, Osogbo, a manager in one of the First Bank PLC branches in Osogbo for an offence of fraud, Obtaining money under false pretence (OBT), Conversion and Stealing..." Opalola stated.

The suspect, described as a serial fraudster, deceived victims by claiming to be a manager at a First Bank PLC branch in Osogbo, despite being suspended by his employer. He convinced victims to participate in the illegal "PROOF OF FUNDS" scheme, resulting in fraud amounting to N650,850,000. "It is worthy to note that the said suspect has been suspended by the First Bank Nigeria Plc, his former employers," Opalola added.

The police have launched an investigation into the case, and Talabi and his accomplices will be charged to court upon completion. The Osun State Police Command, led by CP Mohammed Umar Abba, reassures the public of its commitment to rid the state of criminal elements and warns perpetrators that Osun State will not be a safe haven for them.

The arrest of Adeniyi Talabi for the alleged N650.8 million fraud involving 35 victims highlights the ongoing efforts by the Osun State Police Command to combat financial crimes and protect citizens from fraudulent activities. As the investigation continues, the public eagerly awaits further details and the outcome of the legal proceedings against the suspended First Bank manager and his accomplices.

Key Takeaways

  • Osun State Police arrest Adeniyi Talabi, 47, for alleged N650.8m fraud.
  • Talabi, a suspended First Bank manager, defrauded 35 victims using "PROOF of FUNDS" scheme.
  • He obtained money under false pretenses, claiming to be a bank manager despite suspension.
  • Police launch investigation, Talabi and accomplices to be charged to court.
  • Osun State Police reaffirm commitment to combat financial crimes and protect citizens.