The Economic and Financial Crimes Commission (EFCC) has arrested 47-year-old Cameroonian national Bekono Eric in connection with an alleged N1.5 billion fraud targeting a first-generation bank in Lagos. The arrest took place on Thursday in Ikorodu, according to EFCC spokesperson Dele Oyewale. Eric is accused of involvement in a transnational syndicate that uses fraudulent ATM card transactions to access bank accounts with high balances. Preliminary findings suggest the network opens accounts in Nigeria, obtains ATM cards and PINs, then relocates to neighbouring countries to carry out unauthorised withdrawals. The EFCC stated the scheme caused losses of approximately N1.5 billion to the unnamed bank. The commission did not disclose how the investigation began or name the financial institution involved. Oyewale confirmed that Eric would be charged in court once investigations conclude. The agency linked the case to a broader pattern of cyber-enabled and cross-border financial crimes. This arrest is part of ongoing EFCC efforts to combat such fraud networks operating in the region.
Bekono Eric faces charges over a N1.5 billion fraud, yet the bank that lost the money remains unnamed despite public exposure. Nigerians whose accounts may have been compromised are left without official confirmation of which bank was breached. The EFCC's silence on the institution's identity leaves customers in the dark about potential risks to their funds. This lack of transparency undermines public confidence in the banking system.
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