The bank has suspended the suspect from duty and confirmed that investigations into the matter are underway


The Osun State Police Command has arrested a First Bank Branch Manager in Osogbo identified as Adeniyi Sunday Talabi for allegedly defrauding unsuspecting people with the sum of N650,850,000 under false pretence in an illegal Proof Of Funds (POF).

In a statement by the command’s spokesperson, Yemisi Opalola, the suspect is accused of carrying out the fraud by deceitfully obtaining the funds from the victims and misappropriating them through an illicit transaction known as proof of funds.

According to Opalola, the bank has suspended the suspect from duty and confirmed that investigations into the matter are underway.

Furthermore, she assured that Talabi and any accomplices involved would face prosecution in court once the investigation is concluded


The statement partly read, “The Osun State Police Command in its efforts to rid off criminal elements from the state has arrested a serial fraudster, one Adeniyi Sunday Talabi, ‘m’ 47 years, a resident of Army Barracks Area, Kelebe, Iragbiji Road, Osogbo, a manager in one of the First Bank PLC branches in Osogbo for an offence of fraud, Obtaining money under false pretence (OBT), Conversion and Stealing amounting to the sum of N650, 850,000 in an illegal product called PROOF of FUNDS which involved a total number of 35 victims (people).

“It is worthy to note that the said suspect has been suspended by the First Bank Nigeria Plc, his former employer. Investigation into the case has since commenced and the suspect and his accomplices will be charged to court upon completion of the investigation.”

She also said the state Commissioner of Police, Mr Mohammed Umar, re-assured residents of the command’s commitment to rid the state of criminal elements and warned perpetrators of crimes that Osun would not be a haven or a hibernating ground for them.