Police arrest 4 UBA top officials for diverting N270 million

Lagos State Police Command has arrested four senior officials of United Bank for Africa (UBA) for allegedly diverting £138,924 (over N270 million) from the accounts of international airlines.

In a statement on Monday, the command’s spokesperson, CSP Benjamin Hundeyin, confirmed the arrests, explaining that the suspects conspired to siphon funds from domiciliary accounts into personal accounts before redistributing them to various destinations.

The fraudulent activity came to light when the bank detected unauthorized transactions and reported the matter to the police.

The police launched an investigation that led to the apprehension of the suspects at different locations
Shuaib Oluwatobiloba Olaleye (27) was arrested on March 12, 2025, in Ogun State. A Toyota Camry (2012/2013 model), suspected to have been purchased with the stolen funds, was recovered from him.

Oladunjoye Adegoke (33) was arrested on March 13, 2025, in Victoria Island, Lagos. A Toyota Camry (Pencil Light) was also seized as suspected proceeds of the crime.

Austin Alfred (38), a Supervisor in UBA’s Trade Services Department, and Jude Uzobuaku (36), a processor in the same department, were arrested for facilitating the illegal transfer of funds to foreign accounts.

According to the police, the stolen money was initially funneled into an account belonging to one of the suspects before being dispersed across multiple accounts to evade detection.

Authorities are now working to identify additional accomplices and recover the remaining funds.

The suspects are in custody and will be prosecuted as investigations continue, CSP Hundeyin stated.