According to the investigator, his team was tasked with analyzing the complaint and, if deemed believable, moving forward with the inquiry.
According to Okeibunor, the inquiry showed that the money was secretly stored in the bank’s vault rather than being credited to any known customers’ accounts.
According to the investigator, some of the bank employees who were interrogated claimed that the managing director of Oceangate Engineering Oil and Gas Limited had ordered the money to be brought to the bank.
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“In regards to the seven million dollars, my team spoke with the managing director of Oceangate Engineering Oil and Gas Limited, who maintained that she did not transfer any funds to Providus Bank,” Okeibunor stated.
The managing director of Oceangate Engineering Oil and Gas Limited also told my team that she borrowed $7 million from Providus Bank Limited and has not yet returned the money.
Regarding this transaction, Providus Bank Limited failed to submit a suspicious transaction report (STR) to the Nigerian Financial Intelligence Unit (NFIU).
Since the money sought to be forfeited did not represent known, verifiable, and lawful income of Oceangate Engineering Oil and Gas Limited, the couriers, or Providus Bank Limited personnel, it is reasonable to assume that it is the proceeds of illegal activities.
Since no one came forward to claim the money from Providus Bank Limited or the commission that seized it, it is likewise reasonable to assume that the funds sought to be forfeited were abandoned.
