The Lagos State Police Command has arrested four suspects over a ₦277.8 million (£138,924) bank fraud involving international airlines.
Two of the suspects are current bank employees. One of the others is a former staff member.
According to the police, the suspects illegally moved funds from domiciliary accounts of international airlines into a personal account. The transactions went unnoticed at first.
Fraud Detected After Bank Alerted Police
The case came to light after a commercial bank reported unauthorized transactions on customer accounts. The bank raised a red flag over foreign currency transfers linked to airline customers.
Following the report, investigators from the Lagos Police Command launched a targeted operation. They arrested the suspects between March 12 and 13, 2025.
The Commissioner of Police, CP Olohundare Moshood Jimoh, confirmed the arrests during a media briefing in Ikeja. He spoke through the Command’s spokesperson, CSP Benjamin Hundeyin.
Breakdown of Arrests and Items Recovered
On March 12, officers arrested Shuaib Oluwatobiloba Olaleye, 27, in Ogun State. They recovered a Toyota Camry (2012/2013 model) suspected to have been bought with proceeds of the fraud.
The next day, police apprehended Oladunjoye Adegoke, 33, in Victoria Island, Lagos. Officers recovered a second car, a Toyota Camry Pencil Light, also suspected to be linked to the crime.
Further investigation led to the arrest of Austin Alfred, 38, and Jude Uzobuaku, 36. Both worked in the bank’s Trade Services Department. Alfred was a supervisor, while Uzobuaku served as a processor.
Police say both men helped facilitate illegal fund transfers to foreign accounts, working directly with the main suspect.
Money Laundering Scheme Involved Multiple Accounts
Investigators discovered that the stolen funds were first sent to a dormant account owned by a former bank employee. From there, the money was redistributed across multiple foreign accounts to hide the trail.
The police believe the operation was well-coordinated and relied heavily on internal access. They are now working to recover the stolen funds and trace other accomplices.
Additional Crime Arrests in Lagos State
In the same briefing, CP Jimoh gave a broader update on police activity. Over the past two weeks, officers arrested 26 suspects linked to crimes such as armed robbery, illegal arms possession, and drug trafficking.
Police recovered four firearms, 21 rounds of ammunition, six vehicles, phones, and hard drugs during this period.
Among those arrested were suspects linked to a major bitcoin robbery in the Okota area. Police allege that Emmanuella Ogochukwu, 25, led a plot to rob her lover of ₦15 million in bitcoin and three iPhones.
They also arrested her brother, John Wisdom, and three others hiding in his apartment. Officers recovered a local pistol, four cartridges, and an axe from the scene.
Recovered Rifles Found Abandoned in Ikorodu
In another operation, officers recovered a Lar rifle with 12 live rounds and an SMG rifle without a magazine. Suspected hoodlums had abandoned them in a sack at Aleke-Isiu, Imotu, Ikorodu, on March 21.
Suspects Nabbed with Weapons in Lekki
On March 14, officers stopped two men—Emmanuel Cletus, 32, and Adegor Joshua, 27—around Sangotedo, Lekki-Epe Expressway. Police found an automatic pistol and five rounds of live ammunition during a search.
Police Arrest Car Receiver Linked to Southeast Robbery
Also arrested was Dolapo Ojo, 22, who allegedly received stolen cars from robbers operating in the Southeast. He was caught in Ikotun with a Lexus 350 SUV, one of three stolen vehicles.
Further investigation led to the recovery of another Lexus 330 at Ojodu Berger. Ojo is now helping police recover the remaining vehicles.
Prosecution to Begin Soon
CP Jimoh confirmed that all suspects will face charges once investigations are complete. He praised the public and Lagos State Government for their ongoing support.
He assured residents that the low crime rate in Lagos would be maintained through consistent police efforts.
