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Exposed! How bank worker, syndicate use stolen SIM cards to steal millions from customers’ account

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8 years ago

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Details have emerged of how an employee of a bank, one Christian Amechi, allegedly helped fraudsters to steal millions of naira from customers using a string of impersonators.

The bank worker, until his arrest, was serving at the ATM customers service unit, at the bank’s head office in Victoria Island, Lagos. He is currently being quizzed at the Special Anti-Robbery Squad (SARS), Lagos State Police Command.

He was arrested last week along with five other members of the syndicate following a report against their nefarious activities by the bank’s top management team. Together, the gang had allegedly removed over N20 million from accounts belonging to various customers.

Those arrested include Oyozoje Joseph, 30; Nelson Matthew Eugari; Henry Omogbemi, 31; and Ene Mona Gabriel.

Luck ran against the banker after the police team arrested the leader of a gang of pickpockets, Akeem Apejoye, in Lagos. In his confession, the street thief told the police how Christian and his gang encouraged him to continue to steal phones.

Akeem alleged that the gang’s interest was mainly the SIM cards of stolen phones. After his arrest, he led police to the homes of those who have been collecting SIM cards from him.

Although he alleged that he was not aware that Christian and his group used the SIM card to remove money from the accounts of customers, he said the group often bought him drinks at joints whenever he ran into them. I used the proceeds I made from pickpocket to open a boutique in Ajegunle. My shop is located along Ojo road,” Akeem told detectives.

Narrating how his gang removed several millions of naira from victims account, Christian said all that was needed for the illegal transfer to succeed is the customers SIM card, stressing that any account holder who does online transaction has his or her Bank Verification Number (BVN) number stored on his or her phone.

“I grew up in Ajegunle and I know almost all members of the gang. I know them on the street, but I was introduced into the business by one of my friends known as Ose boy and DJ. I attended the University of Nigeria, Nsukka, (UNN). I read banking and finance. Osey boy and DJ are referred to as the gang “shooters”. What it means is that they can remove bank secret code numbers, particularly BVN from phones.
“The moment any member of the gang lays his hand on stolen SIM cards, they would dial the USSD number to access the owner’s BVN. That is if the owner does online banking. Once this is done, they would send me the six last digits with which I can access the owner’s account. My job is to ascertain how much is in the account and at times, help transfer money to the person who provided me the information. The gang can then transfer at least N200,000 per transaction into their own account from where they would have easy access to the stolen funds.

“The gang pay me between N10,000 to N15,000 per transfer and I have lost count of how many of such transactions we have done in the past. In all, I have made at least N150,000 and I used part of it to upgrade my certificate.”

Chris, the banker, as he is addressed by members of the gang also revealed that, aside helping the gang to generate information of account holders, he also provided the gang with telephone numbers of victims.

He disclosed in his statement to the police that, some times, the gang would do a welcome back of some of the telephone numbers he generates.

He said: “What happens in this case is that the original owner of the line would not be able to make or receive calls. All calls or text messages on such numbers can only be accessed by the person who did the welcome back. The gang members are staff of telecommunication providers. These set of people are the ones who do the welcome back for the gang on any number to be profiled.”

Lagos State Police Public Relations Officer, Chike Oti, who confirmed the arrest said the gang, transferred money from a victim’s account and that the money was then laundered through a series of bogus names before being moved into their individual account to prevent it being recovered.

He said that one of the victims lost more than N2 million after the gang used a fake welcome back telephone number in the account holder’s name to set up two transfers over three days. A customer with N200 million in the bank only escaped becoming a victim when they were arrested.

Credit: The Guardian Nigeria

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Bank

Union Bank Honoured by ASBON at Nigeria National SME Business Awards

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6 hours ago

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May 13, 2026

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

 

 

Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.

The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.

Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:

“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”

Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.

Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.

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Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion 

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18 hours ago

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May 12, 2026

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*Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion* 

_By AGP News 

 

*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.

 

The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.

 

_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.

 

*Licensing Process Underway*

According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.

 

Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:

1. Innovation-driven banking and digital financial solutions

2. Corporate financing and structured investment services

3. International financial partnerships and cross-border trade facilitation

4. Financial inclusion initiatives

 

Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.

 

*Strategic Shift Amid Global Ambitions*

Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_

 

Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.

 

*No Disruption to Existing Commitments*

Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_

 

The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.

 

_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._

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Bank

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025 

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19 hours ago

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May 12, 2026

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Fidelity Bank grows Gross Earnings by 45.6% for FY 2025 

 

Lagos, Nigeria – Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.

 

 

The Group recorded a Profit Before Tax of N347.7 billion.  This performance was underpinned by a 38.7% year-on-year increase in interest income to N1.11 trillion (FY 2024: N803.1 billion) and a 44.7% year-on-year rise in fees and commission income to N113.4 billion (FY 2024: N78.4 billion).

 

 

On the balance sheet, total assets grew by 18.6% year-on-year to N10.46 trillion (FY 2024: N8.82 trillion), while customer deposits increased by 16.1% year on year to N6.89 trillion (FY 2024: N5.94 trillion), reflecting continued franchise strength and growing customer confidence in the brand. Net loans and advances declined by 2.4% year-on-year to N4.28 trillion (FY 2024: N4.39 trillion) as customers paid down on their mature obligations.

 

 

The Bank also strengthened its capital position during the period, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy remained robust, with Capital Adequacy Ratio of 30.94 percent as at 31 December 2025 (FY 2024: 23.47 percent).

 

 

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

 

 

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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