The Acting Zonal Director of the EFCC’s Benin Zonal Directorate, Deputy Commander Sa’ad Hanafi Sa’ad, presented a bank draft of N114 million to Samuel Ikechukwu, a senior official of the bank.
The Economic and Financial Crimes Commission (EFCC) has recovered and returned ₦114 million to a microfinance bank following investigations into a cyber fraud case involving the unauthorised withdrawal of funds from a customer’s account.
The commission disclosed this in a statement published on its official X handle on Friday, stating that the recovered funds were formally handed over on Thursday by the Acting Zonal Director of its Benin Zonal Directorate, Deputy Commander Sa’ad Hanafi Sa’ad, to a senior bank official, Samuel Ikechukwu.
According to the EFCC, the recovery followed a petition submitted by Ikechukwu in August 2024 after the bank discovered that one of its customer accounts had been fraudulently hacked and funds withdrawn without authorisation.
The commission said its investigators traced the stolen money to several suspects, leading to the arrest of one of them, identified as Obumneme Bright, from whom ₦114 million was recovered.
The EFCC added that investigations were ongoing to track down other suspects connected to the fraud.
The recovery forms part of the commission’s efforts to investigate financial crimes and recover funds obtained through fraudulent activities.