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In a recent twist in the ongoing saga of alleged fraud at Globus Bank, Idris Olayiwola, a former Information Technology officer at the bank, has come forward to vehemently deny accusations that he siphoned money from customer accounts both during and after his tenure at the institution. Olayiwola took to his X (formerly Twitter) handle on Monday to refute the claims, branding them as false and untrue.
The Allegations
Last year, Globus Bank raised alarms about a significant hacking incident, implicating several former ICT department employees, including Olayiwola. The bank filed a lawsuit to freeze multiple accounts allegedly linked to the suspects before notifying the Economic and Financial Crimes Commission (EFCC).
In an affidavit supporting the allegations, Samson Oloje, a litigation clerk at the EFCC, stated that an intelligence report identified former bank staff who allegedly accessed the bank’s systems and siphoned off N3.5 billion from customer accounts. The EFCC’s report mentioned that the bank’s systems were hacked and funds were illicitly transferred to various accounts.
The Accusations Detailed
According to the EFCC affidavit, Monday Edward, Globus Bank’s Head of Internal Audit/Chief Inspector, confirmed that the bank’s system had been compromised. The investigation implicated three ICT staff members, namely Idris Olayiwola, Chinedu Ihuma, and Igwe George Benedict Obinna, who were accused of orchestrating the fraud. The affidavit claimed that Olayiwola, Ihuma, and Obinna used insider knowledge to hack into the bank’s systems and transfer N3.5 billion to accounts associated with Haril Global Solutions Ltd and various other accounts across different banks in Nigeria.
Olayiwola’s Defense
Olayiwola, in his detailed response on X, provided a timeline of his involvement with Globus Bank and other firms. He explained that in January 2019, while working with Computer Warehouse Group (CWG), he led the Globus Bank Core Banking Application Project. The project was completed, and the bank went live with the application in November 2019. Subsequently, he joined Globus Bank in January 2021 to oversee their Core Banking Application processes.
Olayiwola cited career concerns as his reason for leaving the bank, stating that he accepted a position at KPMG as an Assistant Manager in the Technology and Enablement Department in September 2021. He emphasized that his departure was motivated by a desire to work in a safe and ethical environment.
Allegations of Unethical Practices
Olayiwola pointed to unethical practices at the top levels of Globus Bank as a primary reason for his exit, though he did not threaten to expose these issues. He noted that when he decided to leave, the bank’s Managing Director offered him a lucrative salary to stay, which he declined. He eventually joined KPMG and maintained no professional relationship with Globus Bank beyond having a customer account.
Questioning the Allegations
Olayiwola challenged the plausibility of the accusations, highlighting that he had been in the UK since May 2022 and had resigned from KPMG in September 2022. He questioned how he could have been involved in fraudulent activities while residing abroad. Additionally, he dismissed claims that he had access to critical bank systems, noting that no single individual could independently access such systems due to stringent operational procedures.
Unsolicited Account Opening
Olayiwola also disclosed an incident in December 2023, where he received an email about an unsolicited account being opened for him at Globus Bank. He immediately informed the bank that he had not authorized this action, suggesting potential malpractice within the institution.
Conclusion
Olayiwola concluded his statement by stressing his dedication to integrity and hard work throughout his career. He expressed readiness to defend his name and expose the truth with concrete evidence, if necessary. He accused Globus Bank of attempting to implicate him to cover up internal fraud and unethical practices, vowing to clear his name and protect his professional reputation.
This ongoing case highlights significant concerns about cybersecurity and ethical practices within financial institutions, with potential implications for both the accused and the accusers. The financial community will be watching closely as the investigation continues and more details emerge.
