Nigeria: Court Orders Zenith, UBA To Remit N2m, N13m Fraud Proceeds To Victim

A Federal High Court sitting in Lagos has directed the managements of the United Bank for Africa (UBA) and Zenith Bank to reverse the proceeds of fraud traced to their customers’ accounts back to the victim of a fraudulent transaction.

While granting the prayers of the Police Special Fraud Unit (PSFU), the court directed both banks to reverse the sums of N13m (UBA) and N2m (Zenith) being proceeds of fraud that were traced to their customers’ accounts.

The court ruled that the proceeds of the fraud which were meant for the purchase of Chinese Yuan for the victim were traced to UBA Account Number: 1023240381, Account Name: Alibaba Information Trading and Zenith International Bank Account Number: 1016167633, Account Name: Guang Dong Shou Wang Trading.

Meanwhile, PSFU operatives are on the trail of one Mrs Lilly and other suspects involved in the crime.