N661 Million Fraud: EFCC Arrests Two Union Bank Managers

Vanguard reports that the Economic and Financial Crimes Commission (EFCC) has arrested two Union Bank of Nigeria managers for allegedly stealing the sum of N661million from the bank. The commission said in a statement released by its spokesman, Wilson Uwujaren in Abuja on Tuesday said that
the duo of Samuel Obende,  a branch Manager and Rabiu Alhasan Dawaki,  Head of Operation stole the money in the course of their daily operations. According to the EFCC, the two managers, who are both serving at a  Union Bank in Kano, reportedly abused their positions to perfect the fraud.

The two men who were saddled with the responsibility of evacuating and supplying cash to 17 branches of the bank in Kano, Katsina, Kaduna and Jigawa States, conspired and made away with the said amount without the knowledge of their employers.

The commission further revealed that in a bid to cover their tracks, the two managers fabricated accounting entries, which deceitfully showed that all the monies were delivered to the respective branches.
The commission said the two men were being interrogated with a view to prosecuting them in court.