I read with utmost dismay the recent publication of Nigerian tribune (Oct 25th, 2010) as it concerns the above subject, and immediately it dawned on me what cruel world (society) we live in.
I read with utmost dismay the recent publication of Nigerian tribune (Oct 25th, 2010) as it concerns the above subject, and immediately it dawned on me what cruel world (society) we live in.
It gives a total insight of how political machinations are deployed through tactical approach and as such, has bedevilled and be riddled the Nigerian Society to the extent that, media houses (both print & electronic) cannot be exonerated or ostracized from this sham.
This was a singular act of honesty displayed by an undergraduate who presumably hails from an indigent sect of the Nigerian Society, but the power brokers that be, the demi-gods of the Nigerian society that dwell in all ramifications (Financial institutions, political offices etc) have decided to arm twist the entire fraud to their favour. A Typical Nigerian scenario.
Firstly, I would want to state emphatically that, Nigerian Tribune has not displayed a high level of professionalism as it concerns this case. It (Nigerian Tribune) should assume an indifferent position concerning this scam, but instead, it has sacrificed professionalism and integrity on the altar of monetary fronts just to stay above board like its peers in the industry. It is a well known fact in Nigeria that for a business to thrive, survive and remain virile in the face of dwindling and stiff economic realities been imposed on the society by various draconian and dictatorial policies of the government, which are not people oriented but postulated to serve the interest of the political class, media houses have to remain hand in gloves with the political class.
My allegation is premised on the fact that, Tribune, been a reputable media outfit, which prides itself as the oldest surviving media house in the land, have subjected the public to comprehending and understanding this fraud based on exchange of memos between ANCOR and FIRTSBANK, as if both parties are pious in nature. They should have at least utilised common sense in carrying out discrete findings on their own, with the sole aim of arriving at a logical conclusion without having to rely on findings of ANCOR or FIRSTBANK, who are determined to hang the young man (ADEYEMI) dry.
Firstly, this write-up is based on objective reasoning and not subjective/impaired thoughts.
The below are questions that should be put across to the Chief Internal auditor of First Bank Plc, Ademola Adewale ( who should be jailed for character deformation of the youngman by calling him a crook). It is quite obvious that, he is not in tuned or practically overwhelmed by his duties.
(1) At what point did FirstBank notify the public of computer errors within the system that led to the credit of all cards in the bank to the tune of N9.3b? I presume his answer will be, in other not to cause panic, the public was not informed.
(2) If not for the genuine gesture of Adeyemi, will it ever become public knowledge that, even the Banks system behaves erratically and as such is not full proof?
(3) Why did it take the bank authorities over 70days to notify the public of this system failure, which could eventually and ultimately lead to system collapse?
(4) In pronouncing Adeyemi guilty, the Chief internal auditor should publish ATM journal reports showing unsuccessful withdrawal attempts made by Adeyemi rather than being apolitical on the pages of national dailies & also, a publication on the N9.3b made to every FirstBank card
(5) It is a well known fact that, banking transactions are shrouded in top hi-tech secrecy, that eludes the understanding & technical wittiness of ANCOR & ICPC, as such, a 3rd party with proven technical proficiency (local or foreign), be engaged in determination of the authenticity and veracity of allegations made by First Bank concerning ;
(a) System failure on 13/08/2010 between 6.36p.m – 6.53p.m
(b) Was the rectification of the error done automatically or rectified through human intervention?
(c) If anomaly was not rectified automatically, names of persons who were in charge of rectifying this fault be made known to 3rd parties before engaging the 3rd parties at work.
(d) Every banking software replicates it entries on a back-up server. Alteration cannot be made to this back-up. Normally, for safety reasons, back-ups are kept outside the purview of the bank premises. 3rd party should be given access under strict supervision to access this back-up.
The last point (d) is the only avenue wherein the truth can actually be determined. A brief summary of how this fraud played out based on my experience on the job is as shown below;
(1) The fraud was actually done internally by not only Bank staff but Bank management
(2) Funds where moved from a source to the destination account. (Internally)
(3) In the process of perpetrating this fraud, Adeyemi through divine intervention happened to be checking his account at that very moment
(4) Upon completion of fraud, the details were deleted from the bank applications, that is why Adeyemi statement will never capture such entry in his account again. This can only be done by the I.T department of the Bank. But the irony of this is that, entries deleted by the I.T department can only be effected on local servers. Back-ups servers’ entries can NEVER be deleted. This is where item (d) comes into play and is very very vital.
It is a well known fact in Nigeria that, 68% of western union fraud in the past and presen, are perpetrated through internal collaboration of FirstBank employees, hence, The Chief Internal Auditor should not place first bank above board.
My sympathy goes out to Adeyemi, because, we all know how this will eventually play out. If he does not thread softly, he will be implicated by the high & mighty in the society, as such, ALAGBON awaits him. Nigerians have totally lost faith in the security paraphernalia of the land, otherwise, Cecilia Ibru, should be jailed for life just like MADOFF of America.
Thank you in the utilization of common sense in solving the very simple fraud that is about to implicate a true and honest Nigerian.
I am,
Olisaemeka (LAGOS BASED FREELANCE JOURNALIST)
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