Friday Ayegba Awulu Arrested for N14.8 Million Fraud: EFCC Nabs Relationship Manager for Customer Account Theft

In a shocking turn of events, the Economic and Financial Crimes Commission (EFCC) apprehended Awulu Friday Ayegba, a relationship manager employed with a prominent new-generation bank.

Ayegba stands accused of embezzling a staggering sum of N14,850,000.00 from the bank account of an unsuspecting customer. The arrest was made public in a statement released by the EFCC spokesperson, Dele Oyewale, on Thursday.

According to the EFCC statement, Ayegba executed the fraudulent transactions between June 7 and July 21, 2023. He allegedly accessed the customer’s account and withdrew a substantial amount, employing deceitful tactics to carry out his nefarious activities.

Ayegba purportedly assumed the identities of Henry Olowo and Terseer Shibiam, using counterfeit passport photographs, national identification numbers, and phone numbers. Under these false identities, he established bank accounts for two fictitious companies: Sulib Complex & Investments and Seamless & More Global. These companies were not legitimately registered with the Corporate Affairs Commission (CAC). Ayegba used these sham entities as conduits to siphon off the funds.

Furthermore, the EFCC revealed that Ayegba went to great lengths to perpetrate his crimes. He allegedly forged documents belonging to an individual named Nduka Obinna to deceitfully apply for a loan amounting to N40 million. His intentions seemed even more sinister, as he purportedly planned to abscond abroad with his family, leaving behind a trail of financial deception.

Upon discovering Ayegba’s fraudulent activities, the EFCC swiftly intervened, ensuring his arrest. The anti-graft agency has stated that Ayegba will face charges in court once their investigations are concluded. This incident serves as a stark reminder of the vigilance required in the banking sector to protect customers and maintain the integrity of financial institutions.