Frauds in banks are no longer news especially with the new generation banks however, what’s new is there dubious ways of scamming clients.
Such is the case of Fidelity bank, Sanusi Brothers Group of company and MTN.
Sometime in May, Sanusi Brothers Nig Ltd leased out their premises situated Plot 9, Block A, Ogba Scheme, Ogba Industrial Estate, Lagos and 2 Akanni Doherty, Off Oba Akran Road, Ikeja respectively to Mobile Telephone Networks Ltd (popularly known as MTN) for erection of telecommunication masts. The premises were leased to MTN at the sum of N4,333,333,33 (Four million Three hundred and thirty three thousand three hundred and thirty three naira thirty kobo) for a period of three years.
However, 3 years later when the lease between Sanusi Brother Nig Ltd (SBNL) and MTN is due for renewal, one of the Executors of the Estate of Alhaji Abdul Razaak Olajide Sanusi, Mrs. Fallilat Sanusi-Lawal, received two bankers cheques for the sums of N9,750,000.00 (Nine million Seven Hundred and fifty thousand Naira) in favour of Sanusi Brother Nig Ltd being rent for the demised premises.
Moreso, instead of Mrs. Fallilat Sanusi-Lawal lodging the two MTN cheques into the company’s account as expected she diverted and converted the cheques to her personal use with the connivance and negligence of Fidelity Bank.
Subsequent investigations by the company revealed that Mrs. Falilat Sanusi-Lawal cleared the cheque into accounts fraudulently opened with Fidelity bank in Ogba branch. This shows how fraudulent Fidelity bank is. Owning to Fidelity bank’s negligence in allowing Mrs. Falilat Sanusi-Lawal to open and operate the said accounts by withdrawing the company’s funds, Sanusi brothers Nig Ltd has already suffered grate financial and economic loses.
Inspite of the fact that the said Mrs. Falilat Sanusi-Lawal was neither a director nor shareholder of Sanusi Brothers Nig Ltd, Fidelity Bank allowed her to open an account in the name of the company even without any authority from the company.
It’s so obvious that Fidelity bank breached its own internal guidelines and regulations of the opening and operation of corporate account. Fidelity bank also failed to carry out any mandatory and necessary searches to confirm whether the said Mrs. Falilat was authorized to open bank accounts on behalf of the company (SBNL).
With the help of the bank manager, Mrs. Falilat was able to open the account with the company’s name without necessary documentation. Fidelity bank failed to cite the Company’s Form CAC and particulars of Shareholders and Director’s respectively before opening the account.
Upon discovering the misappropriation of its fund by the said Mrs. Falilat, the company wrote several letters to Fidelity bank requesting for the return of its fund. Although Fidelity Bank acknowledged receipt of the said letters, it replied that the matter would be investigated and after which it would revert to the Sanusi Brother Nigeria Limited but till this publication, investigation is yet to be communicated to the Sanusi Brother Nig Ltd., and neither has the total sum of N19.5M (Nineteen Million Five hundred thousand naira only) cleared through Fidelity bank was refunded.
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