Ecobank employee Solomon Ufayo was convicted for cyber fraud, stealing N2.4 million from a customer's account.
Conviction of Ecobank Employee
On Monday, the Federal High Court in Ikoyi, Lagos sentenced Solomon Ufayo to one year in prison for cyber fraud. His conviction followed arraignment on May 16. Ufayo pleaded guilty to the charges.
Details of the Fraud Scheme
According to a spokesperson from the Economic and Financial Crimes Commission (EFCC), Ufayo, while serving as a Relief Teller, manipulated deposit and withdrawal transactions from the customer's account, allowing him to divert N2,404,000 into his personal OPay account. The court ruled that his actions contravened the 2015 Cybercrime Act.
Cybercrime Situation in Nigeria
Recent cybercrime cases among bank employees highlight growing concerns within Nigeria's financial sector. The EFCC has prosecuted several former Access Bank employees for allegedly stealing N5.73 billion. Additionally, three Wema Bank employees have been charged with fraud involving N8.5 billion, raising questions about the security of banking systems.
Cases of fraud among bank employees continue to raise alarms in Nigeria. Implementing rigorous security measures may help prevent further incidents.
