The Economic and Financial Crimes Commission (EFCC) has arrested a manager with Intercontinental Bank Plc (now Access Bank), Olayinka Sanni for an alleged money laundering worth about N1.5billion naira. Olayinka was arrested alongside one Oyebode Atoyebi, who is the Personal Assistant to the Speaker of Lagos State House of Assembly, Adeyemi Ikuforiji.
According to reports gathered, Olayinka, who operates a bureau de change outfit named Sidaw Ventures, connived with Oyebode to fraudulently transfer various sums of money of Access Bank customers into his Sidaw Ventures without the consents of the customers.
Olayinka allegedly transferred N65million belonging to Babington Junior Seminary’s account; N40million from P.W. Nigeria LimitedÃ¢â‚¬â„¢s account; N15million from Mikano InternationalÃ¢â‚¬â„¢s account; N20million from Viju Industries LimitedÃ¢â‚¬â„¢s account, N306million from the account of Falana & Falana Chambers and Fafun Nigeria Limited and N1.2billion from Murhi International Limited into his Sidaw Ventures’ account without the consent of any of the account owners.
Olayinka was also involved in a foreign exchange scam with his Sidaw Ventures account where he handled the sum of N104, 405, 000 but only N72,229,000 worth of foreign exchange was paid to the customer with the balance of N32, 185, 000 now being hotly contested between his firm and the customer.
Asides that, the Access Bank manager also collected the sum of $461,200 USD from one Chukwurah Nkiru, who sold it to him for the equivalent of N76, 559,200 but was not paid.
The anti graft body arrested Oyebode, Iluforiji’s PA for complicity and conspiracy with Olayinka for allowing his passport-sized photograph and name to be used in opening an account in Sidaw Ventures Limited in the name of Akanmu Babatunde.
This name was then used by Olayinka to allegedly dupe unsuspecting individuals and firms he had dealings with.
The Acting Head of Media and Publicity of EFCC, Wilson Uwujaren confirmed the arrest in a statement and said that the suspects will be arraigned in court soon.