Authorities have apprehended four suspects in connection with a case of conspiracy and theft involving the sum of £138,924 (equivalent to N277,848,000). The suspects include Shuaib Oluwatobiloba Olaleye (27), Oladunjoye Adegoke (33), Austin Alfred (38), and Jude Uzobuaku (36). The case, initially reported to the Commissioner of Police, was subsequently referred to a specialized unit for a thorough investigation.
According to the petitioner, a former bank staff, the main suspect, Olaleye, fraudulently transferred the stolen amount into her domiciliary account before withdrawing the funds. As a result, the bank has begun investigating all associates involved in the transaction, prompting her to file the petition.
Fraud Investigation Leads to Arrest of Key Suspects and Seizure of Stolen Assets
Upon receiving the complaint, investigators invited the petitioner to provide a detailed account of the events. After evading arrest for an extended period, Olaleye was finally apprehended on March 12, 2025, at approximately 1:00 PM in Ogun State. Law enforcement officials recovered a 2012/2013 Toyota Camry, which the suspect admitted was purchased with the stolen funds. During interrogation, he confessed to the crime and implicated two other bank staff members as co-conspirators.
In a follow-up operation, another suspect, Oladunjoye Adegoke, was arrested the next day, March 13, 2025, in Victoria Island, Lagos. Investigators also seized a Toyota Camry (Pencil Light) believed to be another proceed of the crime. Adegoke remains in custody as authorities continue efforts to track down additional fleeing accomplices. The investigation is also being extended to the bank in order to identify and apprehend any internal collaborators.
Further breakthroughs in the case led to the arrest of two additional suspects, Austin Alfred and Jude Uzobuaku, both of whom are staff members of the bank’s Trade Services Department. Alfred, a supervisor, and Uzobuaku, a processor, allegedly played crucial roles in facilitating the unauthorized transfer of funds from domiciliary accounts belonging to international airlines into foreign accounts provided by the main suspect. Both suspects have provided useful statements and remain in custody for interrogation.
Law enforcement authorities have assured that the investigation remains ongoing and that further developments will be communicated in due course. Efforts to apprehend any other individuals involved in the fraudulent scheme are still in progress.
For more updates on this case and other breaking news, visit LouisaOlaniyi.com.ng. Stay connected for continuous coverage and insights.
