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Exposed! How FCMB Duped Sports Bet Company of N1b

If you’re investing on a mega business project and First City Monument Bank (FCMB) is your banker, you would reasonably have a rethink after reading this exclusive piece. It is a story of how the bank and its desperate crooked senior staff almost ruined a foremost sports betting company in Nigeria.

It all started late in 2018 when the owner of the betting company (names withheld) gave the Allen Avenue, Ikeja branch of FCMB an instruction to buy dollars equivalent to N1billion for his domiciliary account with the bank. It is a standard practice for the bankers to ensure that the foreign currency (dollars) appears in the customer’s domiciliary account before debiting him of the naira equivalent, and the customer made no mistake by emphasizing on this when he instructed Mrs Uki, his account officer at the bank to make the deal.

But out of greed, the senior officers of FCMB were sourcing for cheap dollars in order to make huge profit, and in the process threw the ethics of their profession to the winds. Mrs Joanne Oyenike was Allen Branch Manager of the bank then. She would later be sacked as a result of the scam and drama that trailed the transaction.

Another key figure in the scam is Mr Adeoye Adeyemo, who was FCMB’s Head of Commercial Banking as at then. His department would later be disengaged for lack of results. It was the Allen Branch Manager, Mrs Oyenike and Adeyemo who led this shocking scam you’re about to read.

Note that when the Allen branch of the bank’s Customer Service Officer (CSO), Mr Gboyega Johnson and Customer Service Manager (CSM), Mr Julius Ugwu got the notification for the transaction, they refused to treat it because the dollars have not reflected on the customer’s account accordingly. They declined to debit the customer’s account of N1billion as a result.

However, some crooked senior staff of the bank thereby moved the customer’s instruction to Oba-Akran branch of FCMB, where the sum of N1billion was fraudulently deducted from customer’s account without the dollar equivalent credited to his domiciliary account.

Meanwhile, the Sports Betting Company MD was seriously ill. Perhaps, he anticipated to use the money for his treatment abroad, but was denied the privilege by the crooked FCMB senior staff. It was until 2019 when he returned from his medical trip abroad that he decided to write the bank officially, and trouble started.

The bankers said the dollars equivalent of the N1billion was hanging (it could not be traced till date), and the customer threatened to withdraw all his company’s accounts from FCMB – that was when the management of the bank started begging him and proposed compensating him with N500million.

In fact, a prominent Southwest monarch was also approached by FCMB’s management to help in appealing to the cheated customer because he is one of the bank’s biggest customers.

Paternity Mess: FCMB Finally Replaced Suspended Nuhu Adam With First Female Managing Director

Yemisi Edun, who took over the reins of First City Monument Bank (FCMB) in an acting capacity in January after the immediate past Managing Director Adam Nuru proceeded on a leave, has been appointed the tier 2 lender’s new chief, the FCMB Group said Tuesday.

She becomes the first female CEO of Subomi Balogun-backed FCMB, the appointment having received the blessing of the industry regulator, the Central Bank of Nigeria, the financial services group said in a note to the Nigerian Exchange Limited seen by PREMIUM TIMES.

In January, the bank’s board appointed Ms Edun, who was the bank’s executive director/chief financial officer at the time, to hold the fort for Mr Nuru, to allow for an investigation into a paternity scandal involving the former CEO, Moyo Thomas, a one-time FCMB employee and Tunde Thomas, her late husband.

The high-profile misconduct probe, the culmination of a petition signed by over 1,400 Nigerians, followed an allegation that Mrs Thomas, who had informed her husband of her decision to leave for the United State with the kids, called Mr Thomas on arrival that none of the two kids, who had known the 45-year-old as their father, was his

– PREMIUM TIMES

Sex Scandal: Group Wants CBN to sanction FCMB CEO, Adams Nuru

A group identified as ‘JUSTICE FOR TUNDE THOMAS’ group has launched a petition on change.org calling on the Central Bank of Nigeria (CBN) to sanction the managing director of First City Monument Bank (FCMB), Adam Nuru over what they described as indecent behaviour.

The group allege that the banker is responsible for the breakdown of Tunde Thomas’ marriage which eventually led to Tunde’s death a few days ago.

The story as posted on the website read, “Tunde Thomas died recently like about a week or two ago from depression. Apparently, kids from his marriage to Moyo Thomas belongs to his wife’s boss, Adam Nuru, the current MD of FCMB, with whom she was having an affair with.

“Moyo Thomas left Tunde to go to America with the kids. When she got to America, she told him the children were not his. The shock of this revelation caused Tunde to suffer from stroke which he later recovered from,” the group said.

Continuing, the group said, “This is a case of gross misconduct based on ethical grounds and an unjustifiable economic oppression by the elites (Adam Nuru) against the less privileged in the society.

“The FCMB MD has been doing everything possible to sweep this case under the carpet. We implore the Central Bank of Nigeria as the apex regulator and the board of FCMB to investigate this for the integrity of the bank and Nigerian banking industry.

“This is a case too many. While this is not the full story, the minimum will be an investigation into this unethical conduct by the current MD of FCMB Bank Adam Nuru”

Click here to see the petition

Close sources say Tunde eventually met someone else he was going to remarry but apparently didn’t recover from the issues surrounding his first marriage issues. So just about a week ago, after Tunde had just been made director for the MFB he works for, he got back from work and had cardiac arrest just two days to the introduction ceremony of his pregnant girlfriend.