Alleged N874m Fraud by Fidelity Bank Staff: EFCC Presents Witness

The Economic and Financial Crime Commission, EFCC, has presented CCTV footage which showed four staff of Fidelity Bank allegedly hacking its database and stealing N874 million.

The staff who include; Olusegun Babasola, Abisola Ahmed, Uchechukwu Uma, Jude Aphaeus, and a non-staff of the bank, Omidiji Joseph are undergoing trial before Justice Oluwatoyin Taiwo of a Special Offences Court sitting in Ikeja, Lagos State.

The trial continued on March 3, 2022, with the EFCC presenting its third witness and tendering more exhibits against the defendants, including a DVD of the bank’s CCTV footage.

The defendants are being prosecuted by the EFCC on two counts for their various roles in the hacking of the bank’s database and cloning of more than 22 ATM cards used to steal and divert to personal use about N874 million belonging to five of the bank’s corporate customers – American International Insurance Company Limited (AIICO), Interswitch, OVH Energy Marketing Ltd, Fidelity Bank sinking fund account and FSL Securities Ltd.

They had pleaded “not guilty” to the charges, prompting their full-blown trial.

At today’s proceeding, the third prosecution witness, Chimdinma Peter, an operative of the EFCC narrated to the Court the findings of the EFCC’s investigation into the alleged fraud.