Microfinance Bankers Bolt With Depositors N50m Savings

CYRIACUS IZUEKWE

The police at Area M Idimu, Lagos Command have started manhunt for the operators of a Micro finance company after it was alleged that the company collected over N50m from depositors and bolted away.

The incident happened at Idimu area of Lagos where the company’s office was located before they ran away.

The name of the company they used was not yet known as the police were yet to disclose its name and members.
It was gathered that the suspected criminal operators of the micro finance opened the office and offered the depositors tempting profit margins through what they described as networking.

Police sources said that many of the victims had borrowed money from their relations, deposited and were waiting for the date the payment will mature.

However, unknown to the depositors, they were defrauded and had lost the millions they deposited.

P.M.EXPRESS gathered that two days to the date the gang were expected to refund the depositors their monies with the profits as they had promised, they were not seen again. It was gathered that at night, they came to their office, carried their properties, shut the office and escaped.

When the first set of depositors who were supposed to be paid went to the office and discovered that the place was shut, they asked their neigbours who told them that the operators had packed out two days ago.

The victims raised alarm which attracted other victims who had not known what happened and they jointly cried and bemoaned the alleged fraud. Some of the victims went to the house of one of the operators, and other tenants living with him told them that he hurriedly packed his property and left.

When our correspondent visited Area M Command, Idimu, the Commander, ACP Austines Akika was not around to comment on the alleged fraud.
However, police sources confirmed the incident and said that the police were compiling the names of the victims as the number had continued to increase. It was also gathered that no arrests have been made as the police intensified efforts to arrest the culprits.

However, ACP Akika was heard warning the residents to be wary of those cooperatives and micro finance companies as many had fallen victims over their antics and innocent people defrauded of their hard earned money. Akika gave the warning at a function organised to enlighten the youths against crimes in the area.