The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has formally petitioned the Nigerian Police over an alleged N65 million fraud involving some of its executives.

The petition, addressed to the Assistant Inspector General (AIG) of Police, Zone 2 Command in Onikan, Lagos, claims that Mr Fasasi Atanda, the association’s president, diverted the funds.

The petition, dated November 4, 2024, accuses Atanda of improperly receiving association funds into his personal and corporate bank accounts, in violation of AMMBAN’s financial regulations.

The alleged misconduct led to his suspension by the association’s Board of Trustees (BoT), pending the outcome of the police investigation.

The petitioners expressed concern over Atanda’s actions, citing his failure to account for the funds despite several engagements. They also requested the police to look beyond the fraud allegation and investigate possible breaches of the Companies and Allied Matters Act (CAMA) by the suspended president.

Attempts to reach Atanda for comment were unsuccessful. In the meantime, the BoT has appointed Dr. Obioha Otti, the association’s former Vice President 1, as the acting President. Otti assured AMMBAN members that the association would remain united and continue to move forward.

He urged members to reconsider collaborating with the suspended president, stressing that the long-term stability of AMMBAN is in everyone’s best interest.