The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has accused its suspended president, Mr Fasisi Atanda, of allegedly embezzling over ₦65 million belonging to the group.
In a petition sent to the assistant inspector general (AIG) of Police, Zone 2 Command, headquartered in Onikan, Lagos, the board members of the association stated that the president had been suspended to pave the way for an unfettered investigation.
Atanda was alleged to have failed to account for the monies received from members despite several engagements.
He was also alleged to have fraudulently diverted monies into his personal company’s account (Partner De Ecosystem).
“It has come to our attention that the president has been receiving association funds directly into his personal/corporate bank account, an action directly violating Article 23.2 of the Association Bye-Laws, which mandates that all funds must be maintained in the Association’s official accounts.
“This blatant misrepresentation is a significant breach of trust and accountability to the members and stakeholders of AMMBAN. Such actions are incompatible with the fiduciary duties of transparency and integrity that the President is obligated to uphold,
“This deliberate disregard for the established financial protocols of AMMBAN constitutes a serious mismanagement of Association resources and poses substantial risks to financial accountability,” the petition stated.
Atanda’s suspension, which was effected by members of the association’s BoT, became imperative when he kept parading himself as the substantive president, and was hoodwinking members who did not know that he was diverting their payments away from the official payment channels of the association.
The association urged the police to expedite action in investigating Atanda to prevent unsuspecting members of the association falling prey to his schemes since he is still parading himself as the president of AMMBAN.
The BoT urged the police to look beyond the fraud allegation, and also investigate the several breach of extant laws and regulation, such as CAMA, allegedly perpetrated by the suspended chairmen.
Meanwhile, the BoT appointed Dr. Obioha Otti as acting president, in accordance with the bye-laws of the association.
Until his appointment, Otti was vice president 1 of AMMBAN.
In his acceptance speech, Otti assured members of AMMBAN of the stability of the association and pledged to would work round the clock to ensure that the association moves forward as one indivisible and big family.
“I want to reassure all AMMBAN members that everything is under control and we are working round the clock to ensure that the association is moving forward as one indivisible and big family,” he added.
