crime

First Bank Investment Fraud Shocks Osogbo Investor

Published

1 year ago

August 26, 2025

First Bank investment fraud leaves Osogbo investor seeking N10.5 million refund after alleged mismanagement by former banker

First Bank investment fraud has left Sule Fabiyi, a 72-year-old Osogbo resident, struggling for his rightful N10.5 million.

Also read: FirstBank Strengthens Sustainable Finance Partnership with UNGC

Fabiyi narrated how Abdulwahab Sani Shehu, a former business banker, terminated his fixed deposit investment without his knowledge and mismanaged the funds.

Fabiyi, who opened the investment in September 2019, said everything initially went smoothly, with interest payments received regularly and reinvested at maturity.

The situation changed dramatically in July when Fabiyi received a suspicious N500,000 transfer from Shehu’s personal account.

Alarmed, he visited the Osogbo branch, where he learned that his investment had actually been terminated in 2022, yet interest was credited until January 2025.

“This meant that Shehu had diverted my N10.5 million into some unknown activity,” Fabiyi told FIJ. “I am 72, and I depend on my money to survive.

My lawyers have sent many letters to First Bank, but they have not explained how they will refund me.”

Fabiyi also refuted claims that he had any personal relationship with Shehu, stressing that Shehu was only his account manager. First Bank has reportedly terminated Shehu’s appointment, but the refund issue remains unresolved.

Also read: Ecobank InnovateX Challenge Empowers Young Nigerians to Create Lasting Impact

FIJ reached out to First Bank for a comment, but no response had been received by press time. Fabiyi’s story underscores the risks of investment mismanagement, even within major banks.

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crime

Police Arrest 41-Year-Old Over Murder of Bayelsa Sand Dealer

Published

1 day ago

November 10, 2026

Mariam Balogun

The Nigeria Police Force has arrested a 41-year-old man, Somkiemi Tommy, over the alleged murder of a sand business operator, Thankgod Kalaba, in Yenagoa, Bayelsa State.

The Force Public Relations Officer, Chief Superintendent of Police Ani Iniedu, disclosed the arrest in a statement on Monday.

According to the police, Kalaba was allegedly murdered after visiting a river on October 29, 2026. His body was reportedly tied to a boat and submerged in the water.

Iniedu said the police began investigating the incident after receiving a report about the victim’s disappearance and suspected murder.

Preliminary findings reportedly indicated that the victim had been trailed and killed by Tommy.

The police spokesperson added that the suspect allegedly tied Kalaba’s body to a boat before submerging it in the river in an attempt to conceal the crime.

He said the suspect was arrested by police operatives working in collaboration with youths in Yenaka.

“Acting on the report, police operatives, in collaboration with Yenaka youths, successfully arrested the suspect,” Iniedu stated.

Tommy is currently in police custody, while the Criminal Investigation Department has commenced further investigations into the circumstances surrounding the killing.

The police said the investigation would establish the events leading to Kalaba’s death and determine whether other individuals were involved.

The suspect is expected to face prosecution if the allegations are established by investigators.

The police have yet to disclose the motive behind the alleged murder.