Police declare ‘fugitive’ First Bank employee, Tijani Muiz, ‘wanted’ over alleged N40 billion fraud 

The Nigerian Police Force has declared Tijani, an employee of First Bank of Nigeria Limited, wanted for multiple offenses, including criminal conspiracy, breach of trust, cheating, and banking fraud involving fraudulent transfers to various bank accounts.

According to the Police Gazette, these crimes were committed between 2016 and March 25, 2024. The public is urged to arrest Tijani if seen and hand him over to the nearest police station or the INTERPOL office in Abuja.

First Bank reported the fraudulent activities to the Nigerian Police on March 25, 2024. Following this, the bank obtained court orders to block hundreds of bank accounts linked to the stolen funds. Initially, the diverted amount was believed to be around N12 billion, but further investigations revealed that the total was closer to N40 billion.

An analysis by FITC of fraud and forgery in Nigerian banks in 2023 revealed that out of 270 implicated staff members, only 54 faced termination, a slight decrease from the previous year. While outsider involvement in bank fraud decreased significantly by 47%, insider involvement saw only a 5% reduction.