FG Sues Access Bank, Staff Over Alleged N825.9 Million Fraud Scheme – Business – Nigeria
The Federal Government of Nigeria has sued Access Bank Plc and a staff member, Abdulmalik Abubakar, for allegedly diverting N825.9 million of state funds into a fraudulent account at the bank’s Sokoto branch.
The charges include conspiracy, money laundering, and concealment of stolen funds, based on investigations by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
The alleged fraudulent activities occurred between May 2024 and January 2025, violating the Money Laundering Act of 2022 and the Corrupt Practices Act of 2000.
The case was filed at the Federal High Court Sokoto Judicial Division and was scheduled for hearing on May 19, 2024, with both parties required to present all evidence within the hearing period.
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