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Police recover N500 million from fraudsters

Posted by By CHRISTOPHER OJI & IJEOMA CHIMA on 2008/08/06 | Views: 2527 |

Police recover N500 million from fraudsters


Police Zone II police command in Lagos has recovered over N406 million cash and N22 million goods stolen from two banks and another corporate organization.

Police Zone II police command in Lagos has recovered over N406 million cash and N22 million goods stolen from two banks and another corporate organization.

The Assistant Inspector General of police in charge of the zone comprising Lagos and Ogun States, Muhammed Abubakar, who made the revelation on Tuesday at a press conference, said the money and goods had been handed over to the owners.
Giving insight on how the money and goods were recovered by his command, he said the sum of N280 million was recovered by the zonal anti-fraud operatives in a case of conspiracy, fraud and stealing involving two banks (names withheld).

Abubakar explained that "the sum of N280 million paid by Mobil Oil Nigeria Plc to Lagos, Akwa-Ibom and Rivers states boards of inland revenue was fraudulently transferred from one bank to an account in another bank. In the course of investigations, one Olarenwaju Gentry was arrested."
The police boss said the Olarenwaju confessed that one Kayode requested to have his company’s documents to process a contract he got from an oil company in Nigeria, which he obliged, not knowing that Kayode was a fraudster.

However, Mohammed Abubakar said the said bank where the fraud was perpetrated had since paid back the sum into the accounts of the three states.
Abubakar stated further that in a related development, the zonal surveillance operatives recovered the sum of N115 million following a petition by Tubbss Marine and Energy Ltd, Bombay Crescent, Apapa, in which the company alleged that one Bashir Adamu duped the company of goods worth N119,823,615.29 and issued a dud cheque. He added that the suspect was promptly arrested and the sum of N115 million recovered from him.

Also, Abubakar said one Amuld Ebodage who duped one Musa Mohammed of petroleum products (AGO) worth N11, 171,040 was arrested and the sum of N11, 035,420 was recovered from him, which was equally given back to the owner.
He further revealed that Maritime Nigeria Ltd, Park Close, off Liverpool Road, Apapa, reported to the police that its 40 feet container No. CMBU 408350/9 loaded with power battery valued at N22 million was stolen from the premises.
He said the surveillance operatives swung into action and recovered the container with the goods intact in Ikeja. "The goods has been recovered and handed over to the owner.

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