N49B Fraud: The IT Director of Heritage Bank Is Missing

Unease in Akinola George Taylor Led Heritage Bank as Head of IT Diverts N49 Billion into Separate Accounts and Disappears

Our source learnt that Rilwan Dabiri upon exit handed over the IT department to his successor who is simply identified as Akin. Since resuming his new position as head of IT, Akin had allegedly been engaging in serious insider fraud which includes unauthorized transfer of funds from the bank’s coffers into private bank accounts which he secretly operates without the knowledge of his employers.

According to the bank’s structure, only the head of IT has sole access and operates the Finacle Financial Solution platform which is solely used for online transfer of funds in the financial sector. For this reason, Akin who has unfettered access to the platform seized the opportunity to initiate multiple transfers of about N49 billion into six accounts domiciled in six commercial banks in Nigeria.

His escapades were soon exposed following an internal audit per the instruction of the bank’s MD, George Taylor which reportedly exposed the mega fraud. Upon further interrogation, he was only able to drop one of the six accounts before disappearing and switching off his phones.

The management of the bank is afraid of inviting the Economic and Financial Crimes Commission (EFCC) to open an investigation for fear of stirring up the hornet nest.

It remains to be seen how the new leadership of Heritage Bank Plc under the watch of Akinola George-Taylor intends to steer the lender off troubled waters, but key indicators suggest that things are not good.

Meanwhile when we contacted Ozenna Utulu, head of Corporate Communications of Heritage Bank on Thursday morning for official reaction via SMS.