N1billion Fraud; UBA Directors Fingered As EFCC Wades Into The Scam



Imminent crisis looms at the Headquarters  of the United  Bank for Africa, UBA Plc as top management  staff and Directors are presently trading blames over the N=1,000,000,000,00 ( One Billion Naira) fraudulently deposited in the account of Peter Ujah, a Driver attached to the e-banking department of the Area 3 branch of the bank, in Abuja.

The high octane scandal is in the pattern of the internal manipulations of depositors’ funds and laundering of Billions of Naira for high profile politicians under the watch of the Economic and Financial Crimes Commission, EFCC.

Source at the Wuse branch of UBA confided in 247ureports how N=5million  was recently paid to a purported depositor which the bank claimed was paid in error.

The current transactions involving N=1,000,000,000,00  like other previous ones, has the complexion of money laundry and internal manipulations by top management staff of UBA.

According to our usual source within UBA, familiar with such transactions, “Top management staff and Directors are daily engaged by top government functionaries, to help launder such money to avoid the anti-graft popping eyes.        What they do in turn is to use menial workers like cleaners and Drivers accounts, who are in turn hoodwinked before the money are moved out in tranches to other accounts

The case of Ujah, may not have been different, but this time the management was not fast enough in the handling of the transactions” he revealed.

Indeed, precisely on the January 3, 2009, from the statement obtained from the Bank, N=1,000,000,000,00  was deposited into the account of Mr. Peter Ujah, a Driver attached to the e-banking department, at Area 3 Abuja. As earlier reported by this medium, for crying out loud the management embarked on all forms of intimidations and shenanigans, frozen his account without any reason given to him.

When the story was reported by this medium recently, the management claimed Uja’s account was dormant and it was a standard practice in UBA to credit dormant accounts with one Billion Naira.

247ureports.com investigations however, revealed that the money paid into Ujah’s account couldn’t have been a standard practice of crediting dormant account with such funds, as Ujah ‘s account was still active.

In an interview with Ujah, the embattled Driver, who until recently petitioned the EFCC was a staff of UBA.

From the documents made available to us, Ujah was among the contract staff engaged by UBA from Norwood Executive Drivers management.

“How can they said my account was dormant, while I am still with their Identity Card and I was not sacked or redeployed?”

Continued Ujah challenged the management to produce evidence of his disengagement by UBA.

Interestingly, Ujah  whom the bank claimed was sacked has continue to received alerts from the Standard  IBTC bank where the bank had register him among the beneficiaries of UBA staff insurance  scheme.

Last week Ujah, following his petition to EFCC was invited and interrogated by the anti- graft team preparatory to the clamp down on the staff of UBA suspected to be behind the deal that have gone awry.

But in a move that smack of cover up, the management in its reactions to our story claimed the EFCC had investigated the matter and exonerated them, but the current development has punctured their claims as  Ujah on the September,30 2013 formally reported the matter to EFCC vide a petition to the Chairman of the Economic and Financial Crimes Commission, EFCC.



  1. I am not surprised. They have been cheating people out of money sent to them from overseas by lying to them that they have been directed by the Central Bank not to issue dollars anymore. Then they will turn around and force u to take the money in naira at an exchange rate far lower than the going rate. The receiver will not have any choice because if he/she refuses they will ask the person to come back another day. And before you know it you have lost the whole money. What a bunch of criminals. I wish them hell in their life for stealing what does not belong to them


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