As you read this piece, the management of Access Bank is now explaining to the operatives of the Economic and Financial Crimes Commission, (EFCC), all it knows about an alleged transfer of a whopping sum of N1,736,643,000 from one of its customer’s account without authorization. As THE GIST PLUS gathered, the said account belongs to Doyin Motors. Given further insight into the alleged fraud that was committed in a petition which Ayo Adedoyin, the owner of the company also copied the Special Anti-Fraud Unit, revealed that Doyin Motors took a credit facility from Access Bank to finance the initial operational costs of its land logistics contracts No.514866 with Shell at its Western Division in Ogunu, Warri, Delta State worth the said amount. As the story goes, Doyin Motors noticed that over a period of time, funds totaling about N182,005,783.40 intended for domiciliation in the company’s account with the bank had been diverted to the personal accounts of certain people believed to be staff members of the company without authorization by Doyin Motors. THE GIST PLUS further learnt that on noticing this alleged fraud, Doyin Motors was said to have drawn the attention of the bank to it, however, Access Bank in its reply dated August 15, 2008, stated that the said fund was used to pay salaries to Doyin Motors’ staff working on the Shell contract, based on the payment instruction purportedly received from First Bank and SPDC. But First Bank had early in a letter dated April 2, 2008, told Doyin Motors that it never gave any such instruction to Access Bank to divert money from the company’s account to pay staff without authorization.
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