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N1bn fraud: Police accused ex-bank chief of misinformation



N1bn fraud: Police accused  ex-bank chief of misinformation


An investigation report released by the Nigerian Police on the ownership crisis rocking the Mainstreet Bank Registrar Limited has revealed that former Managing Director of the company, Chester Ukandu, gave false information to police investigators in respect of an alleged N1billion fraud in the company.
The Nigeria Police Force Crime Investigation and Intelligence Department, FCIID, Alagbon, Lagos, had last year arraigned the company’s Chairman, Sulaiman Adedokun, incumbent Managing Director, Oluwadare Akingbola and one, Elijah Adegoke, before a Federal High Court in Lagos following a petition by Ukandu alleging over N1billion fraud in the company.
Ukandu had alleged in the petition backed by a document, which the police report says is false, that Adedokun, Akingbola and Adegoke stole shareholders shares and unclaimed dividend worth over N1billion.
However, following a complaint to the Inspector General of Police by lawyers to Adedokun, Akingbola and Adegoke over alleged use of some police officers in FCIID, Alagbon Lagos to persecute and intimidate their clients, the IGP ordered another investigation into the matter.
Upon the conclusion of the investigation, the police on July 6, 2018, issued a report stating that Ukandu had simply attempted to drag the police into a civil dispute with false documents.
The police report with reference number CR: 3000/IGP. SEC/MU/ T.G/ ABJ/Vol. 53/40 was signed by Superintendent Usman Garba, Officer in Charge, Team G of IGP Monitoring Unit, Force Headquarters, Abuja.
“The attempt of the suspect (Ukandu) to criminalize this civil matter with false document and dragging police into the plots to gain advantage towards a forceful takeover of the company is to say the least regrettable”, the report said.
The report indicated that there was no case of fraud or stealing of any kind associated with Mainstreet Bank Registrar Ltd as attested to by a 2014-2017 audit report on the company by Pedabo Audit Services Ltd.
The report further stated that following an advice from the Attorney General of the Federation which also indicted Ukandu for forgery, giving false information, impersonation and conspiracy, police authorities has ceded the prosecution of the suspect to the Economic and Financial Crimes Commission (EFCC).
The anti-graft agency has since charged Ukandu and one, Achi George before a Lagos High Court for conspiracy, forgery, giving false information and impersonation.
According to the report, the Security and Exchange Commission (SEC) has also confirmed that the new ownership of Mainstreet Bank Registrars Limited is Wizpick Exotic Investment Limited.
The report was however silent on the fate of three ex-staff of the company, Godfrey Opurum, Adesina Onikeku and Chukwudi Ugumba who allegedly conspired with Ukandu to carry out the crime but are presently not been prosecuted by either the police or the EFCC.
The report also failed to state the fate of the police officers in FCIID, Alagbon, who were used to harass and intimidate the new management of Mainstreet Bank Registrar Ltd.

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