Naira Redesign: Kogi Assembly Member Arrested with N326m, $140,500 Cash

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Ismaila Atumeyi, a New Nigeria Peoples Party candidate for the Kogi State House of Assembly, was detained by the Economic and Financial Crimes Commission with N326 million and $140,500 in cash.
In a sting operation on Sunday, October 30, 2022, at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja, Joshua Dominic, an alleged serial fraudster, and Atumeyi, who is running to represent Ankpa 11 Constituency in the Kogi State House of Assembly, were both apprehended.

Abdumalik Femi, a former bank employee who is accused of providing the insider information that enabled the group to assault the bank, was also detained in connection with the fraud.

Wilson Uwujaren, a spokesman for the EFCC, said that Femi was taken into custody on Tuesday at the Radisson Blu Hotel in Lagos.

Following his arrest, a search was conducted on his home in Morgan Estate, Ojodu where a total of $470,000 USD was recovered.

“The arrest of the suspects followed months of investigation into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4billion,” he said.

The syndicate allegedly moved N887 million into the account of Fav Oil and Gas limited, from where the monies were paid to several Bureau de Change operators and some auto dealers for exchange into United States dollars and purchase of high-end cars.

images 3 11 Naira Redesign: Kogi Assembly Member Arrested with N326m, $140,500 Cash
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