Two other suspects were at large, but the EFCC has launched
Some of those whose benefits were diverted actually were said to have died in the war against Boko Haram in the Northeast.
Other accomplices were Branch Manager and Relationship Manager of UBA.
It was gathered that the auditors of UBA raised the alarm when its auditors discovered that huge parts of the funds were “cashed across the counter in a suspicious manner".
Based on the alert by the bank, the EFCC stepped in to crack how the fraud was perpetrated.
A top source in EFCC said: “We have arrested a serving Wing Commander, a Lt. Commander and four others for N339million death benefit of some deceased military officers and men. Two others are at
“The affected military officers were both cashier and computer operator in Military Pension Board and they connived with six others to carry out the fraud in UBA branch, Wuse Zone 3 branch.
“Between April and June 2016, they opened accounts where
“The auditors of the bank observed suspicious withdrawal of
The source added: “During the investigation, the Branch Manager and the Relationship Manager confessed and admitted opening these slush accounts. Some existing accounts of customers and the friends of the suspects were also used to divert the funds.
“Findings confirmed that the husbands of the two bank officials benefited from the death benefit fraud.
“Two suspects, who are personal friends of the Branch Manager and Relationship Manager are at large. But we have
“The military officers also admitted to have colluded and conspired with the bank officials to use the slush accounts for the fraud. These serving military officers incorporated a company each and