Police arrests First Bank manager over N650.8m fraud

Osun State Police Command has arrested a First Bank Branch Manager in Osogbo identified as Adeniyi Sunday Talabi for allegedly defrauding unsuspecting people with the sum of N650,850,000 under false pretence in an illegal Proof Of Funds (POF).

According to a statement by the command’s spokesperson, Yemisi Opalola, the suspect is accused of carrying out the fraud by deceitfully obtaining the funds from the victims and misappropriating them through an illicit transaction known as proof of funds.

Opalola disclosed that the bank has suspended the suspect from duty and confirmed that investigations into the matter are underway.

Furthermore, she assured that Talabi and any accomplices involved would face prosecution in court once the investigation is concluded.