First Bank
By Victory Oghene
The sacked Business Manager of First Bank of Nigeria, Abdulwahab Sani Shrhu, who diverted and squandered the sum of N10.5million fixed deposit belonging to 72-year-old Osun resident, Sule Fabiyi, has gone into hiding.
This is just as the Central Bank of Nigeria (CBN), absolved the financial institution of any wrongdoing.
CBN in a recommendation it recently gave on a fraud-related N10.5 million dispute involving 72-year-old Osun resident Sule Fabiyi and First Bank of Nigeria, has absolved the financial institution of any blame.
Contrary to the CBN’s recommendation, emerging documents show that First Bank was alerted to the fraudulent N10.5 million transaction in July. Yet, the bank did nothing to help Fabiyi recover his money or apprehend the fraudsters who operated from the bank.
Fabiyi told FIJ that he received the CBN’s recommendation on Monday. His lawyer had been invited to collect a hardcopy of the document from the bank.
“I received the recommendation from CBN on Monday and found it very shocking and unbelievable,” said Fabiyi.
“Just like First Bank had initially claimed, the CBN also claimed that I had a personal business relationship with Abdulwahab Sani Shehu. How is that even possible?
“You know the worst part? It was not stated how and when I would get my N10.5 million back from First Bank.
“The business banker exploited the fact that I am an elderly person who knows nothing about how they perpetrate their shady deals in the banking sector and now my N10.5 million has disappeared.
“A lawyer within First Bank had first falsely claimed I had a personal business relationship with Abdulwahab Sani Shehu, and now, the CBN is making the same claim?
“How am I even sure that the investigation was thoroughly carried out, and that the shocking outcome was arrived at without any inducement and bias?
“Now, the business banker is nowhere to be found and my N10.5 million has disappeared.
“I am not going to relent on this matter. First Bank must cough out my N10.5 million.”
The CBN’s conclusion reads in part:
The investigation revealed a personal business relationship between the complainant (Fabiyi) and the former business manager (Shehu).
When the business deal went bad, the complainant turned to the bank to recover lost funds. The bank is not liable for the loss incurred by the complainant.
The former business manager acted beyond the scope of his official duties to perpetrate this fraudulent activity against the complainant.
