See how you misinterpreted the situation? The headline states "Providus Bank and Officials Under Police Investigation for Alleged N1.1bn Fraud." It doesn't outrightly claim they are guilty.

Yes, the fraud was committed through the bank, and for such a large amount, it's reasonable to expect the bank to conduct thorough checks before approving the transaction. Given the circumstances, it's essential for the bank to be questioned as part of the investigation because this situation is highly suspicious.

An investigation is an investigation—its purpose is to uncover the truth. Using the term "alleged" is appropriate here because it acknowledges that while the bank was involved as the channel through which the money was moved, their direct complicity is still under scrutiny. Once the investigation is concluded, the full extent of their involvement will be clear.

Namaster:
If Nigeria had a sensible legal system, Newspapers in Nigeria would be swimming in lawsuits and DEBTS.

This shitty Newspaper is claiming that Providus is being investigated for fraud. Whereas the explanation in the body of the article CLEARLY demonstrates that the bank is merely ASSISTING the police in a fraud investigation.

The culprits are known. The fraud is known and the bank is NOT complicit. That a bank is used for a fraudulent transaction does not mean the bank is GUILTY of fraud.

Whoever let this article be published is either DUMB or MALICIOUS. Either way, Providus Bank ought to sue them into FURTHER oblivion since the newspaper is already in oblivion.

ALSO the BDC operator, Shamsudeen Ahmed, is EXTREMELY dumb and EXCEPTIONALLY greedy. Dollar is #1,4600+ YET he wanted to buy a whole 1 Million Dollars at a rate of #1000/dollar.

That's short-changing the sellers to the tune of #400,000,000 (FOUR HUNDRED MILLION NAIRA).

Which legitimate businesspeople would WILLINGLY take a loss of #400M?

Greedy fool even borrowed money because he thought he was taking advantage of the sellers.