Scam: CBN Suspends Deputy Governor, 4 Directors | Independent Newspapers Limited
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Scam: CBN Suspends Deputy Governor, 4 Directors

Posted: Mar 14, 2016 at 12:16 am   /   by   /   comments (0)

Isuma Mark, Abuja

The alleged fraud that has rocked the Central Bank of Nigeria (CBN) has seen to the suspension of a deputy governor and four deputy directors by the apex bank.

Governor of the CBN, Mr. Godwin Emefiele, gave approval for their suspension for allegedly compromising the bank’s financial regulations and due process, which led to the scamming of the bank by fraudsters.

Information obtained last night showed that the suspended deputy governor of the bank’s Financial System Surveillance, Mr Joseph Nnanna, failed to uncover some spam emails sent to her.

According to a source, she did not pay adequate attention to follow due diligence as usual which requires adequate cross checking of all processes in order to authenticate mails before approving payment.

It was revealed that this took place when the governor and several senior officials of the bank were on a flight to China last month.

Others affected by the ugly development include the deputy director in charge of payment, the deputy director trade and exchange department, and the deputy director in the office of the governor, who heeded Nnanna’s directive to pay when they themselves ought to know CBN’s payment due process. Their names could not be known as at press time.

Independent understands that $190, 000 was lost to the fraudsters. The initial sum was $441,000 but $251,000 was, however, blocked and recovered as the fraudsters have made some withdrawals.

The bank, however, moved swiftly into action in following the routes of the scam as two of the scammers have been caught in Dubai, United Arab Emirate. They are currently being questioned by investigators, Independent learnt.

According to the statement posted on CBN website, the bank stated that it had uncovered and aborted fraud without giving details.

The four-paragraph CBN statement signed by the Ag. Director, Corporate Communications, Isaac Okoroafor, and titled, ‘CBN Uncovers and Aborts Fraud,’ reads: “A highly sophisticated plot to defraud the Central Bank of Nigeria (CBN) by some criminal minded elements has been uncovered and aborted by the bank.

“Although preliminary investigations so far have not revealed any accomplices within the CBN, management has decided to place all key personnel involved in the transaction on suspension.

“This is to ensure a full and unfettered investigation.

“This incidence has been reported to relevant authorities. The CBN wishes to assure the general public that the security of the bank remains intact.”