By Newsshelve Correspondent.
Four officials of the United Bank for Africa (UBA) have been arrested by the Lagos State Police Command for allegedly stealing £138,924 (over N270 million) from international airlines’ accounts.
According to CSP Benjamin Hundeyin, the command’s public relations officer, the suspects conspired to illegally divert funds from domiciliary accounts into personal accounts before redistributing them to multiple destinations.
The fraud was uncovered when the bank detected unauthorized transactions and alerted the police.
The arrested officials include Shuaib Oluwatobiloba Olaleye, 27, who was arrested on March 12, 2025, in Ogun State, with a Toyota Camry 2012/2013 recovered from him.
Oladunjoye Adegoke, 33, was arrested on March 13, 2025, in Victoria Island, Lagos, with a Toyota Camry (Pencil Light) recovered.
Austin Alfred, 38, Supervisor of the bank’s Trade Services Department, and Jude Uzobuaku, 36, a processor in the same department, were also arrested for facilitating the illegal transfer of funds to foreign accounts.
Police investigations revealed that the stolen funds were initially funneled into an account belonging to one of the suspects before being distributed to multiple other accounts to evade detection.
Authorities are now working to identify additional accomplices and recover the remaining funds.The suspects are in custody and will face prosecution as the investigation continues.
The police have urged the public to report suspicious financial transactions, reiterating their commitment to tackling economic crimes.
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