UNIJOS, University Of Jos Students Hacked Union Bank Database, Stole N2.05 Billion

* The Economic and Financial Crimes Commission
has arrested two young men who claimed to be
undergraduates of the University of Jos, Isaiah
Friday and Azzaior Samuel, for an alleged N2.05bn
fraud.
Two bureau de change operators, Salihu Mahmoud
and Dan Ibrahim, were also arrested in connection
with the alleged crime.
The suspects were also accused of being members
of a syndicate that specialised in breaking into the
computer data base of financial institutions to
carry out dry posting of funds.
The Head, Media and Publicity, EFCC, Wilson
Uwujaren, said the suspects were arrested in
Lagos and Jos.
He said, “Their arrest comes on the heels of a
petition which the commission received from
Union Bank of Nigeria Plc, Marina, Lagos, in
January 2013, alleging that a criminal attack had
been launched on its data base known as
‘Flexcube’, by yet-to-be-identified criminals who
falsified the bank records and accounts and
created unjustified huge opening balances in
several accounts across the bank’s branches. They
subsequently transferred funds from those
accounts to several accounts in other banks.
“The petition, which was signed by one A.F
Olufade, Head of Fraud Investigation at the bank,
said cash withdrawals and electronic transfers
totalling N2.05bn was involved in the scam.”
It was learnt that EFCC initial investigation showed
that Friday, who was carrying out computer
system maintenance services for one of the Union
Bank branches in Jos, Plateau State, on a part-
time basis, paved the way for the fraudsters to
penetrate the bank’s database.
Uwujaren said, “Friday was traced and arrested.
His arrest led to the arrest of Azaaior Samuel.
“Investigations further revealed that Samuel
introduced Friday to Mahmoud, who is the
mastermind of the fraud with others now at large.
“Mahmoud and other collaborators told Friday that
they needed access to the bank’s database in
order to carry out some postings. They promised
to give Friday N.5m if the deal succeeded.”
PUNCH Metro gathered that Friday agreed. On the
day the crime was committed, he told people at
the bank that Samuel was his colleague who had
accompanied him to work.
It was learnt that after the gang had succeeded in
gaining access to the bank’s premises, it carried
out the postings to six different company accounts
domiciled in Union Bank’s Marina branch in Lagos.
Uwujaren said, “The accounts are Gona Bureau De
Change Limited, Jaxmine Bureau De Change
Limited, Dan Kawu Bureau De Change Limited,
Godswill Great Communications, ZHG Services
Limited and A and B Console Limited. The postings
were carried out and the syndicate thereafter
went to the bank to withdraw all the funds. Friday
was paid as promised and other syndicate
members now at large shared the remaining
balance.”
The EFCC spokesman added that the commission
had been able to recover $2,129,900 and another
N134,542, from the fraudsters.
He said, “Other items recovered are furniture
worth N10m from Salihu Liman’s one bedroom
apartment in Yaba, Lagos; four vehicles, landed
properties in Kano and Kaduna and a four-
bedroom duplex worth N45m in Lagos.
Investigation into the scam continues.”