The CBN law that any dollar transaction that is over $10 should be flagged has been upheld by FCMB as they have handed a customer who is an alleged Yahoo boy to the EFCC.
The bank reported Ojo Temitope Francis to the EFCC after he received a deposit of $54, 000 in a domiciliary which he registered with a firm Asej Global Services. The bank thought the money was from a cyber fraud and called the attention of the EFCC who have investigated the case which is now in court.
Before handing him over to the EFCC, The First City Monument Bank enquired how he got the money. The owner of the account claimed that it was a proceed from his business associate in the states George Edwards Cook.
When the EFCC contacted the FBI, Federal Bureau of Investigation in the United states, they reported that he is a felon known for counterfeiting cheques and money laundering.
They claimed Edward cook is still at large. Francis’ case is already in court for the complete forfeiting of the whole sum.
What do you think about this?
Leave a comment of your thoughts.