Fraud ,Conspiracy and Unresolved Complain Against Moniepoint Agent.
By Raymond Enoch
A troubling case of alleged fraud and conspiracy has emerged from Delta State involving a Moniepoint agent identified as Mr. Osugba Sylvester, who is accused of orchestrating multiple fraudulent activities in collusion with a Moniepoint customer, Princess Okushi Choma.
According to the formal complaint lodged with Moniepoint by the victim, Sylvester allegedly used Choma’s Bank Verification Number (BVN) without her consent to open 14 separate accounts under different identities. The accounts, it is claimed, were opened fraudulently and used as part of a wider scheme to manipulate finances under the guise of legitimate Moniepoint operations.
The victim further asserts that Sylvester had exclusive access to her Moniepoint account, monitoring every transaction and inflow. Under the pretext that Moniepoint required urgent loan repayments, he frequently pressured her to deposit funds, which were then allegedly siphoned or redirected without trace or accountability.
These alleged actions, according to the complaint, resulted in substantial financial losses and left Choma’s business in ruins, saddling her with mounting debts.
In April 2025, a formal complaint was submitted at the Moniepoint office in Ughelli, Delta State, where an initial investigation was promised by Mr. Henry Igbineku. The case was subsequently escalated to Lagos under the oversight of Madam Eucharia, Moniepoint’s Fraud Investigation Officer. Despite early assurances of a thorough investigation, no formal findings were ever released. Instead, the complainant was later informed that Sylvester had been dismissed—a move that has raised more questions than answers.
Adding to the concern is the continued visibility of Sylvester, who allegedly still parades himself as a Moniepoint agent, offering loans and conducting business under the company’s name. This apparent contradiction between official statements and on-the-ground reality has triggered suspicions of an internal cover-up or complicity within Moniepoint.
The complainant warns that the company’s failure to take transparent and decisive action leaves her vulnerable to potential harassment or further exploitation by Sylvester, who may still claim she owes him money based on the manipulated accounts.
The core of the grievance lies in the perceived lack of transparency and accountability from Moniepoint. With sensitive customer data like BVNs allegedly used in fraudulent schemes, the case raises serious concerns about systemic weaknesses in the financial institution’s fraud prevention protocols.
The complainant has demanded the publication of a full investigation report, restitution of stolen funds, the removal of any false debt records attributed to her, and a deeper internal review to identify possible collusion within Moniepoint.
She insists that the matter must be treated with urgency, warning that the company’s credibility and customer trust hang in the balance.
