For 13years, Chairman of Zenith Bank, Jim Ovia, used his Bank to fraudulently trade with the account of Seaforce Shipping Company owned by Billionaire Businessman, Femi Otedola without his permission or knowledge.
The police at the Force Criminal Investigation Department (FCID), are currently investigating the monumental fraud perpetrated by the bank against the Billionaire businessman.
Two officials from the Bank are currently on bail from the FCID, Alagbon, pending the conclusion of the investigation by the police.
Otedola’s Seaforce Shipping account had not been operational since 2010, but whistleblowers from the Bank tipped off the Billionaire of the fraudulent trading with his company’s account by the Zenith Bank, according to an insider police source.
Despite never taken a loan from Zenith Bank, for 13years, Seaforce Shipping account continued to witness billions of Naira in unauthorized trading transactions.
But when Seaforce Shipping produced documents showing proof that Seaforce’s account was in credit between 2018 to date, Zenith Bank apologized.
A letter from Zenith Bank to Shofolawe-Bakare & Co, Seaforce’s auditors, had stated a debt of only N2,278,420 on the same account with number 1011576472, as against the N5 billion recorded in the bank statement obtained by Histoky.com
Meanwhile, the United Kingdom Financial Services Authority, and Fitch Rating Agency, have both written to Zenith Bank, demanding explanations over the fraudulent activities of the bank carried out against Otedola’s Seaforce Shipping.
Sources said Ovia is notorious for manipulating documents and accounts of Billionaire customers of the Bank. He is said to be involved in using depositors funds to trade.
