EFCC returns N114m recovered from cyber fraud to microfinance bank
by Ganiyu Mubarak · The Eagle OnlineThe Economic and Financial Crimes Commission (EFCC) has returned N114m recovered from a cyber fraud case to a microfinance bank after tracking down funds stolen from one of its customer accounts.
The commission disclosed this in a post on its X handle on Friday, stating that the recovered money was handed over to the financial institution on Thursday.
The Acting Zonal Director of the EFCC’s Benin Zonal Directorate, Deputy Commander Sa’ad Hanafi Sa’ad, presented a bank draft of N114m to Samuel Ikechukwu, a senior official of the bank.
The recovery followed a petition submitted by Ikechukwu in August 2024, reporting that fraudsters had hacked one of the bank’s customer accounts and withdrawn funds without authorisation.
According to the commission, investigations traced the stolen money to several suspects, including Obumneme Bright, who was subsequently arrested.
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“Investigators traced the stolen funds to several suspects, including Obumneme Bright, who was arrested. Upon his arrest, the commission recovered N114 million from him.
“Efforts to track down the remaining suspects are ongoing,” the EFCC said.
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