Tensions are escalating at First Bank following the dismissal of over 100 employees in the wake of a ₦40 billion theft scandal.
The scandal, which emerged four months ago, centers around Tijani Muiz Adeyinka, a manager in the operations team accused of embezzling funds over a two-year period.
Adeyinka allegedly diverted funds by authorizing chargebacks to accounts he controlled.
This prompted the firing of his superiors, including the head of transactions, as the bank’s management believes such a significant fraud could not have occurred without their awareness.
The bank has implemented strict measures in response, with numerous employees questioned and detained by the Nigerian Police Force for several hours.
Personal accounts of the involved employees have also been restricted, except for their First Bank accounts.
The scandal has also led to the unexpected resignation of First Bank’s CEO, Dr. Adesola Adeduntan, who stepped down in April, eight months before his term was set to end, shortly after the fraud was uncovered.
First Bank has not yet issued a public comment on the ongoing situation.
Credit: Goldmynetv
