Busted! Police Arraign Access Bank CEO in Court Over N2.5b Fraud

Posted by African Examiner Business News, Featured, Latest Headlines Friday, March 8th, 2019

(AFRICAN EXAMINER) -The Police Special Fraud Unit in Lagos has charged the managing director and chief executive officer of Access Bank Plc, Herbert Wigwe, with 21 counts of conspiracy and stealing before an Ogun State High Court.

Mr Wigwe, Alawode Oluseye, Bayo Adesina, and Access Bank Plc are accused of conspiring and stealing 23,754.413 metric tonnes of steel billets valued at ₦2.5 billion belonging to BMCE Bank International Plc.

The alleged crime took place in June 2017 at the premises of Metal Africa Steel Products Limited along Sagamu/Ikorodu road, Ewe Jagun, in Ogun State, the police said.

According to the police, the defendants falsely presented themselves as the owners and sold the steel billets to Metal Africa Steel Products Limited without the authorisation of the actual owner.

The police said the defendants forged the Bill of Ladings number: MJINLOS150007’1A’; MJINLOS150007 ‘1B’; MJINLOS150007 ‘1C’; MJINLOS150007 ‘2A’; MJINLOS150007’2B’; MJINLOS150007 ‘2C’; MJINLOS150007 ‘2C’; MJINLOS150007 ‘2D’; MJINLOS150007 ‘2E’; MJINLOS150007 ‘2F’; MJINLOS150007 ‘2G’; MJINLOS150007

He requested for a short adjournment.

N.I Agbelu, the judge adjourned till April 4 for report of the settlement./PT