Lagos, Nigeria – The Lagos State Police Command has arrested four suspected fraudsters accused of hacking into the accounts of two airline operators and diverting £138,924 (approximately ₦277.8 million) from a commercial bank in Lagos.
The suspects allegedly infiltrated the domiciliary accounts of the airlines, withdrew the funds, and laundered the money through multiple bank transfers before cashing it out.
Police Investigation and Arrests
Speaking to journalists in Lagos, Commissioner of Police Jimoh Moshood, represented by the Command’s Spokesperson, CSP Benjamin Hundeyin, disclosed that a former staff member of a new-generation bank initially reported the unauthorized transfer of funds.
“Immediately after the funds were moved from one bank, they were transferred to another domiciliary account before the fraudsters eventually withdrew all the money,” Moshood said.
Following an intensive investigation, police operatives tracked down and arrested the alleged mastermind, Shuaib Olaleye, 27, on March 12 in Ogun State. Authorities also seized a Toyota Camry, suspected to have been purchased with proceeds from the crime.
Further investigations led to the arrest of three other suspects:
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Oladunjoye Adegoke, 33, who was apprehended on March 13 in Victoria Island, Lagos, with another Toyota Camry (Pencil Light).
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Austin Alfred, 38, identified as the Supervisor of the bank’s Trade Services Department.
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Jude (last name withheld), whose role in the fraud is still under investigation.
The police have intensified efforts to recover the stolen funds and apprehend any other accomplices involved in the sophisticated financial fraud.
