The Economic and Financial Crime Commission, EFCC, said it had arrested one Amina Kabo, Manager of Olive Microfinance Bank, and three others, suspected to be operating a fraudulent organisation in Sokoto.
The EFCC Sokoto zonal head, Abdullahi Lawal, who briefed journalists in Sokoto on Friday said the suspects were allegedly connected to operation of fraudulent business in Sokoto and parts of Kebbi State.
According to him, Ms Kabo alongside three others whom she recruited as staff had so far collected a total of N897,500 from 108 victims.
“This was under the guise of opening accounts for them with a view to granting them loan facilities in different categories.
“The category of the loans includes; N5,000 for N50,000, N7,000 for N100,000, N8,000 for N200,000, N9,000 for N300,000 and N10,000 for N400,000 respectively.
“Investigation also revealed that she operated same kind of fraudulent business at Jega and Gwandu in Kebbi state in the name Olive Microfinance Bank and Easy Loan Microfinance Bank,” he said.
Mr Lawal added that the EFCC operatives while conducting a search at the suspect’s office recovered several incriminating items including the sum of N583,310.
The Zonal Head said the suspects would be charged to court as soon as investigations were concluded.