The Police Special Fraud Unit in Lagos State has detained two suspects, Ikeocha Daniel, 34, and Sylvester Ebeta, 33, in connection with an alleged N613 million fraud.
The unit’s spokesperson, SP Eyitayo Johnson, confirmed their detention in a statement released on Saturday in Lagos.
He said, “The suspects were arrested for alleged offences bordering on conspiracy, fraudulent conversion/diversion and stealing of N613,980,200 belonging to a leading Nigerian Financial Technology company.
“The alleged offences, which occurred between January 19, 2022 and October 12, 2023, was due to a system/network glitch that led to some Payment Gateway Web Merchants of the firm getting multiple credits for refunds initiated to cardholders. These refunds were then settled to the merchants’ accounts in various banks and subsequently withdrawn/transferred by the merchants,” he said.
Johnson said, “Daniel unlawfully benefited and converted N402,980,200, while Ebeta fraudulently converted/diverted N211,000,000.”
According to him, the duo took advantage of the glitch to make multiple withdrawals totalling the aforesaid sums, and distributed same to themselves in other banks, friends and relations.
He alleged that the suspects disabled their mobile lines and relocated from their known addresses to evade arrest.
“But they were later tracked and arrested by PSFU detectives,” he said.
According to the police fraud unit image-maker, the suspects made confessional statements where they admitted their roles in the crime.
Mr Johnson said criminal charges had been filed against the suspects by the unit’s legal section.