The dust raised by reports that a cook with the Ogun State Governor, Otunba Gbenga Daniel, has stolen the governor’s N400m seems to be settling as two bank managers have owned up to have carried out the fraudulent transaction through their banks.
For their roles in the illegal transaction, the Branch Manager of Finbank Plc, Mr. Oyeneye Ogundele, and the Branch Manager, Intercontinental Bank Plc, Abeokuta, Mr. Olayiwola Akinyemi, are to be charged for fraudulent bank transaction.

Parading the four suspects in connection with the controversial transfer of the N400m in Abeokuta on Tuesday, the Commissioner of Police, Ogun State, Mr. Hashimu Argungu, alleged that Ogundele, Akinyemi and the Account Manager of the cook, Mr. Moshood Obasa, colluded to fraudulently transfer N400m, whose owner was not known.
The police commissioner explained that the suspects claimed that they did not intend to steal the huge sum but to make up their bank accounts.
“They have colluded to defraud even though there was no physical cash to steal. So, for using somebody’s accounts illegally, we are charging them to court for fraudulent bank transaction.
“When they get to court they will explain their roles in the illegal transaction,” he said.
The cook, Mr. Tope Kujenya, claimed he was not aware that his account manager and the bank managers made any transaction through his account in Finbank.
Ogundele and Akinyemi said they only transferred the money to create a book impression that their banks were doing well.
“It is not a case of stealing money. We call this swap draft. The money is not there to steal. It is not strange though we did not contact the account owner before we carried out the transfer,” the bank managers said.
They claimed they had been doing similar transaction for a long time but denied that they had an intention to steal the money or defraud the account holder.

when is the governor going to be charged for transfering ogun state money to projects like ogroma for example which has been proved to benefit his co horts. AND HIMSELF . OLE JI OLE GBA.

No wonder some Nigerians complain money is missing from their account.

Bankers have always done this to shore up their balances and give false impression about their cash deposit base and I guess its one of the reasons why CBN asked the banks to have a common year end.

who says the owner is not known?  a beg the money na my own o. i don dey look for am so tay, a beg return my money o oga commissioner.
but talking seriously how can the police come up with this cock and bull story about not knowing the owner of the account. i smell a rat here.

No wonder some Nigerians complain money is missing from their account

desgiezd:

Bankers have always done this to shore up their balances and give false impression about their cash deposit base and I guess its one of the reasons why CBN asked the banks to have a common year end.

Well Said.
It's called book adjustment, before the harmonised year end directive by the central bank, banks borrow from each other to shore up deposit/demand base but now that CBN has ordered for a uniform year end they now resort to new means of cooking up books(esp. the unhealthy ones).
@Poster,
That is part of the decay in our banking sector.

BULLSHIT!, HOW THE HELL CAN A COOK COLLUDE WITH BANKERS TO TRANFER N400 MILLION TO HIS ACCOUT. NIGERIANS ARE SO GULLIBLE THAT IS WHY THESE POLITICIANS CONTINUE TO TAKE US FOR A RIDE. IT IS OBVIOUS THE COOK IS A FRONT FOR A POLITICIAN IN THE STATE OR EVEN THE GOVNOR HIMSELF, PLS I PLEAD WITH NIGERIANS TO BE ASKING QUESTION DON'T BELIEVE WHAT THE POLICE OR THE MEDIA SAY ALL THE TIME. WHO OWNS MOST OF THE MEDIA?, WHO CONTROLS THE POLICE?. THERE IS MORE TO THIS CASE THAN MEETS THE EYE.

NIGERIANS ENGAGE IN RATIONAL THINKING AND START ASKING QUESTIONS!

NLs can we pls be logical and reasonable on issues like this.
1. you don't transfer money to an unknown customers account to cook up the bank's or branch's books.
2. you don't transfer funds to an individual's account to cook up books of a bank or it's branch, adjustments like this are carried out between the bank's ledger accounts
3. before you credit an account, there must be a debit somewhere of equal amount, so the branch managers cannot manufacture  =N=400m from the air and credit an account in the name of cooking their books.
Conclusively;
4. someone is trying to pull wool over our eyes, i strongly recommend that the original story holds water
the original question this story is begging to be answered is ; how the governor had so much govt fund that a cook could steal up to =N=400m w/o being caught.

PS: if the cook could successfully steal =N=400m how much would others have stolen?

@skyranger
That is the type of questions we should we asking, not accept evrything everything at face value. I don't trust the media or police because they can be easily compromised.