Nigeria’s anti-graft police nabs bank MD who stole $31.9 million

Nigeria’s anti-graft police nabs bank MD who stole $31.9 million

The Nigerian anti-graft police or the Economic and Financial Crimes Commission, EFCC has nabbed one Mr. Michael Osasogie Obasuyi, for alleged conspiracy, cybercrime and laundering of N11.498 billion

The EFCC said in a statement that Mr. Michael Osasogie Obasuyi committed the alleged crime when he was the bank manager of Managing Director of Platinum Multi-purpose Cooperative Society Limited.

“The commission, in the course of investigation recovered a paper version of the programme called MicroSwitchServer1, which he allegedly used to create and post the imaginary monies. “He also admitted to have diverted to his personal use N7, 519, 381, 202 out of N11, 498,944,038.29. “The Commission has so far recovered N2, 903,727,563.92, $37, 992.87 and 18,538.09 found in Obasuyi’s accounts in various banks in the country.

“Also, a total of 20 properties located in various parts of Edo, Rivers and Lagos States and Abuja, worth several millions of Naira, have been traced to Obasuyi, which were acquired with proceeds of crime. “Obasuyi, who also admitted to have purchased 134 buses from the proceeds of crime, runs the popular Platinum Cruise Transport Company. He will soon be charged to court as soon as investigations are concluded.”

“The Commission has so far recovered N2, 903,727,563.92, $37, 992.87 and 18,538.09 found in Obasuyi’s accounts in various banks in the country. “Also, a total of 20 properties located in various parts of Edo, Rivers and Lagos States and Abuja, worth several millions of Naira, have been traced to Obasuyi, which were acquired with proceeds of crime.

He added that “Obasuyi, who also admitted to have purchased 134 buses from the proceeds of crime, runs the popular Platinum Cruise Transport Company. He will soon be charged to court as soon as investigations are concluded.”