How FCMB paid N573 million to Prophet Omale in error – MD reveals

Photo of Pastor Omale speaks on laundering money for suspended EFCC boss, Magu, says “he’s my son”

First City Monument Bank (FCMB) has said that the posting of N573 million into the church account of Emmanuel Omale was done in error.

This was disclosed by Adam Nuru, managing director of the bank.

Omale’s name came up after the Presidential Committee on Audit of Recovered Assets (PCARA) linked him to a corruption allegation against Ibrahim Magu, the suspended acting chairman of the Economic and Financial Crimes Commission, EFCC.

A house in Dubai allegedly belonging to Magu is said to have been bought using his name.

Nuru who testified before the committee revealed that the bank realized the error after it got the invitation from the committee.

“On January 16, 2016, we made a return to NFIU which indicated that there was a transaction of an inflow of well over N573million. (N573,228,40),” the bank MD said.

“This return was said to be in favour of Divine Hand of God Prophetic Ministries Account No 1486743019.

“After that report, we conducted an investigation and discovered that the lodgement which we reported to NFIU was an error.

“The error was as a result of the fact that we were using a bank application called Pinnacle-7. However, we migrated from that application to a newer version called Pinnacle-10.

“Usually, when the bank intends to migrate from one application to another, we utilize weekends to carry out the exercise. The migration involves moving all the balances of customers from the previous application to the new application. The account of the Divine Hand Ministries was moved during that migration.

“It was that balance of N573million that was wrongly posted as an inflow into Divine Hand Ministries as reported to NFIU. This error was not peculiar to Divine Hand of God Prophetic Ministries alone but was also ascribed to 27 other accounts.”