First Bank employee on the run after diverting ₦40 billion; bank begins recovery
By Olumuyiwa Olowogboyega and Muktar Oladunmade
May 31, 2024

Image source: Techc
First Bank, a Nigerian bank with a market capitalisation of ₦829 billion has begun legal action to recover “huge sums of money” allegedly diverted by an employee at a head office team in Iganmu, Lagos. The employee, now on the run, allegedly diverted those funds to 98 bank accounts classified as first beneficiaries, including his wife’s.

The bank reported the incident to the Nigerian Police Force on March 25, 2024, and obtained three court orders between April 4–8, 2024 to block hundreds of bank accounts believed to have received the stolen funds.

Three people with direct knowledge of the incident told TechCabal that while the initial amount discovered to be diverted was around ₦12 billion, it now stands at around ₦40 billion ($29 million).

As a manager on the electronic products team at First Bank, the employee, identified by court documents as Tijani Muiz Adeyinka was authorised to process reversals for customers, said one First Bank employee with knowledge of the matter. It meant he controlled an account with which he processed those reversals and could credit merchant accounts.
https://techcabal.com/2024/05/31/first-bank-employee-on-the-run-after-40bn-fraud/

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Why running get yourself a good lawyer fight them

40 billion naira! He thief reach politicians

Nawa oh, I'm yet to understand this story well.

The story never still clear me