Police arrest Mainstreet Bank Chairman over N2.6 bn fraud at Unity Bank

Bello

A former Managing Director of Unity Bank Plc, Mallam Falalu Bello, was on Wednesday quizzed by the police in Abuja for allegedly perpetrating a N2.6bn fraud in the bank.

Bello, SHOWBIZPLUSNG gathered was arrested by the Inspector General of Police Monitoring Unit. The embattled banker was interrogated for some hours and then granted administrative bail.

The suspect, who is the Chairman, Mainstreet Bank, was alleged to have been involved in the fraud during his five years tenure as Unity Bank boss.

Bello retired from Unity Bank on June 30, 2011 and was shortly afterwards, appointed Chairman of Mainstreet Bank, one of the three banks nationalised by the suspended Governor of the Central Bank of Nigeria, Mallam Lamido Sanusi.

The Force Public Relations Officer, Frank Mba, confirmed that the Mainstreet Bank chairman was interrogated, but noted that he was not arrested, but was invited.

“It is true that Falalu Bello was interrogated by force detectives, but he was not arrested, he was invited and he honoured the invitation,” Mba explained,

It was gathered that the Economic and Financial Crimes Commission had earlier investigated Bello following allegations of over-invoicing of transactions and money laundering during the administration of a former Gombe State governor, Danjuma Goje.

Goje, who is a serving senator, was accused by the EFCC of siphoning N52bn while in office.

Bello, from Kaduna State, has vast board membership experience as director in several frontline organisations including Kakawa Discount House Limited, Jaiz Bank Plc, Express Discount House, and First Interstate Merchant Bank.

He presided over the merger of the nine constituents that made up the Unity Bank, namely, Bank of the North Limited, First Interstate Bank Plc, Intercity Bank Plc, New Africa Bank Limited, New Nigeria Bank Plc, Societe Bancaire Limited, Pacific Bank Limited, Tropical Commercial Bank Limited and Centrepoint Bank Plc.

Bello consolidated the banks into Unity Bank Plc in 2006 before retiring from its services in 2011.