A prosecution witness, Chuks Igboerika, a manager with Access Bank Plc, on Monday, July 23, 2018, told Justice M.S. Hassan of the Federal High Court sitting in Ikoyi, Lagos how a suspected fraudster, Ifeanyi Nwaneri, had carried out fraudulent transactions to the tune of N1, 231,105,297.00(One Billion, Two Hundred and Thirty-one Million, One Hundred and Five Thousand, Two Hundred and Ninety- seven Naira, Eighty Kobo) using a Point of Sale, POS.
Nwaneri is facing trial alongside Omede Silas Shehu and Monday Akor on an 11- count charge bordering on money laundering to the tune of N1, 231,105,297.00.
The complainant, Access Bank Plc, alleged it deployed a POS terminal enabled for international transactions/cards to Nwaneri, who is one of the bank’s customers with account number 0047820964.
It was further alleged that Nwaneri, who claimed to be a businessman, was later found to have carried out fraudulent transactions on the POS.
The bank also alleged that, on September 22, 2017, the POS Unit of the bank received a mail from Interswitch on alleged fraudulent transactions totalling N1.2billion via the merchant’s terminal, a development that led to the arrest of Ifeanyi at the Dopemu, Agege, Lagos branch of the bank.
At the time of his arrest, Nwaneri was said to have withdrawn a sum of N532, 929,914.91 (Five Hundred and Thirty Million, Nine Hundred and Twenty Nine Thousand, Nine Hundred and Fourteen Naira, Ninety One Kobo), leaving a sum of N677, 856,826.80 (Six Hundred and Seventy Seven Million, Eight Hundred Fifty-six, Eight Hundred and Twenty-six Naira, Eighty Kobo)in his account.
At the resumed hearing today, the prosecution witness told the court that findings and reviews done by VISA and the Central Bank of Nigeria, CBN, revealed that the POS transactions did not follow the normal procedure for international card transaction.
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