Taj Bank Drags Before EFCC Over Alleged Fraudulent Practices

Taj Bank Drags Before EFCC Over Alleged Fraudulent Practices


By: Femi Mustapha



The Nexus 24 Agrik Commodities Limited has dragged Taj Bank Limited before the Economic and Financial Crimes Commission (EFCC), over alleged fraudulent activities including forgery, perjury, collusion, criminal conspiracy, and corruption.


According to a petition with file number EFCC/PET/KAD/1426/2023 dated 4th December 2023 and received by the EFCC on 5th December  2023, the Managing Director of the Company, Mr Anthony Akhivbareme urged the Commission to investigate the bank for what it described as a matter of grave concern involving alleged criminal activities perpetrated by Taj Bank Limited and its employees.


In the petition, a copy of which was made available to our Correspondent, Nexus 24 Agrik Commodities Limited  requested EFCC to investigate and take appropriate legal actions against Taj Bank Limited and any of its employees found culpable for their alleged “involvement in forgery, perjury, collusion, criminal conspiracy, fraudulent practices, and corruption.”


According to the petition, the Company said it had received a court order and another court process as a second respondent to a case between Taj Bank Limited and another company (Enonita Limited.) “Upon examination of the supporting documents presented by Taj Bank and its employees, we discovered evidence of fraudulent practices, forgery, and misrepresentation.


“The petition is a result of a purchase order document that suggested a business transaction between Nexus24 Agrik Commodities Limited and Enonita Limited, dated to commence from the 13th of February, 2022, a period before the company was even registered.”


The petitioner stated that the “input letterhead on the purchase document does not correspond with the company’s official letterhead which carries only the company’s number and is always signed and stamped by the procurement director after appropriate approval from the Managing Director has been confirmed. The fraudulent document which is dated 12/12/2022, features an edited and misplaced company logo, which is inconsistent with our official document format.


“It also carries a different address on the letterhead from our actual operating address at the said time. The company’s Official Purchase Orders bear a specific coding system, including the issuer’s name, (E for Emmanuel, the Procurement Director,) and a validity date of strictly five days, after which the supplier is expected to request a version update from the procurement unit.


“Nexus24 Agrik Company Limited has only one purchase order document which contains specific information including the terms and conditions of the transaction. The fraudulent document does not align with any of our usual contents maintained in our original order document. We trust in the EFCC’s commitment to upholding justice and combating economic and financial crimes. We are available for any further clarification or assistance required during the investigation.”

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