Boko Haram: EFCC arrests Military officers for diverting Soldiers’ death benefits

Boko Haram: EFCC arrests Military officers for diverting Soldiers’ death benefits

For allegedly opening fake accounts to divert N339m benefits
The Economic and Financial Crimes Commission (EFCC) has
arrested two military officers and four others for allegedly opening
fake accounts to divert N339million benefits of next-of-kin of
deceased military officers and men within two months.
Two other suspects are at large as the commission launches a
manhunt for them.
Some of those whose benefits were diverted are said to have died in
the course of the war against Boko Haram in the Northeast.
According to investigation, the officers arrested were from the
Military Pension Board including a Wing Commander and Lt.
commander.
Their other accomplices were Branch Manager and Relationship
Manager of United Bank for Africa (UBA).
It was gathered that the auditors of UBA raised the alarm when its
auditors discovered that huge parts of the funds were “cashed
across the counter in a suspicious manner.”
Based on the alert by the bank, the EFCC stepped in to crack how the
fraud was perpetrated.
A top source in EFCC said: “We have arrested a serving Wing
Commander, a Lt. Commander and four others for N339million death
benefit of some deceased military officers and men. Two others are
at large but we have watch-listed them.
“The affected military officers were both cashier and computer
operator in Military Pension Board and they connived with six others
to carry out the fraud in UBA branch, Wuse Zone 3 branch.
“Between April and June 2016, they opened accounts where benefits
of the next-of-kins of deceased military men were diverted into. In
fact, under two months, N339million was withdrawn and wired into
more than 11 accounts. The withdrawal was in two tranches of
N298million and N41million.
” The Auditors of the bank observed suspicious withdrawal of huge
chunk of the cash from  across the counter
The source claimed that all the suspects have admitted their
involvement in the crime.
The source added: “During the investigation, the Branch Manager and
the Relationship Manager confessed and admitted opening these
slush accounts. Some existing accounts of customers and the
friends of the suspects were also used to divert the funds.
“Findings confirmed that the husbands of the two bank officials
benefitted from the death benefit fraud.
“Two suspects, who are personal friends of the Branch Manager and
Relationship Manager are at large. But we have watch-listed them.
We will soon arrest them.
“The military officers also admitted to have colluded and conspired
with the bank officials to use the slush accounts for the fraud. These
serving military officers incorporated a company each and funds
were wired into the accounts of their companies.”