By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Magu probe: Our bank wrongly transferred N573m to Prophet Omale, says FCMB MD
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Magu probe: Our bank wrongly transferred N573m to Prophet Omale, says FCMB MD

Saddam Yusuf Saleh
By Saddam Yusuf Saleh
Published: August 10, 2020
Share
3 Min Read
Adam Nuru
Adam Nuru
SHARE

The managing director of First City Monument Bank (FCMB), Adam Nuru, says the bank had mistakenly posted the sum N573 million into the church account of Pastor Emmanuel Omale.

Okay.ng recalls that the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, was accused by the Presidential Committee on Audit of Recovered Assets (PCARA) of using Omale, founder of the Divine Hand of God Prophetic Ministry to launder funds abroad.

The committee headed by retired Justice Ayo Salami said the former acting chairman purchased a property worth N573 million in Dubai using Omale’s name.

Omale said he indeed met Magu in Dubai earlier in the year but not for illegal activity.

- Advertisement -

The pastor said he only prayed with the suspended EFCC boss who had traveled to Dubai for medical reasons.

However, while testifying on Thursday, before the committee currently investigating Magu for allegedly mismanaging loot recovered by the anti-graft agency, FCMB MD Nuru said the bank just discovered that N573 million was transferred to the church account of Omale.

Nuru said: “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).

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

- Advertisement -

“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.”

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:FCMBIbrahim MaguMaguProphet Omale
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
BySaddam Yusuf Saleh
Follow:
A reporter for Okay Nigeria (Okay.ng)
Previous Article Agboola Ajayi Ondo Deputy Governor, Agboola Ajayi dumps PDP
Next Article FCMB FCMB sustains new strengths in Q2 amid COVID-19

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
Ange Postecoglou
Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory
Sport
- Advertisement -
Ad imageAd image

You May Also Like

News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
News

President Tinubu and Top Officials Attend Eid-el-Kabir Prayers in Lagos, Emphasize Peace and Progress

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?