The Oyo State Police Command has arrested 10 suspects, who operated an illegal Micro finance bank called STAAGMART Nigeria Limited, situated at D69 Oyingbo, Lagos State, and recovered the sum of N961,375.
The state’s Commissioner of Police, Shina Olukolu, disclosed this to newsmen on Thursday while presenting the suspects at the command’s headquarters in Ibadan.
Olukolu said that the command got information from the public on July 30 that some hoodlums suspected to be armed robbers lodged at S.L Hotel at Boluwaji area of Ibadan.
He said that his officers led by ASP Muhammed Jamiu, swung into action and apprehended the suspects.
Olukolu explained that one of the suspects, who claimed to be the chief executive officer of bank, said it was situated in Lagos State but operates at Lokoja, Kogi state capital.
“The company is a financial institution and is into giving soft loan to customers.
“The customers are to invest the sum of N30,000 and above to be entitled to 10 per cent of the total money invested within 5 days.
“The suspects after receiving huge unspecified amount of money from customers in Lokoja, decided to abscond with the money to Ibadan and lodge at S.L Hotel, Boluwaji area, Ibadan, before they were arrested,” Olukolu said.
The Commissioner of Police said that the exhibit in possession of the suspects include the sum of N961,375, Staagmart Nigeria Ltd documents, certificate of incorporation and charms.
He said that all the suspects have confessed to have committed the offence and would be charge to court as soon as the investigation is completed.
He said the suspects absconded from Lokoja when customers wanted to attack them for their inability to keep to their promises.
The Commissioner of Police advised the public to be wary of Okada riders who carry two passengers, especially at the early hours of the day or late in the night.
He said that it was usually a plot to rob innocent peace loving people of the state of their hard earned assets even as the Eid-kabir celebration of approaches.