Tag Archives: LOTUS Bank

LOTUS Bank Falls Victim to Internal Fraud Again, N1.13 Billion Lost

There is no reprieve yet for LOTUS Bank Limited as  the bank has again  been defrauded to the tune of N336,993,863.35 by one of its staff after been suffer a loss of N1,134,491,604.31(one Billion one hundred and thirty-four million four hundred and ninety one thousand six hundred and four Naira thirty one kobo about two months ago.

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System Glitch:Lotus Bank Suffers Loss Of N1.13Billion

In a bid to recover the sum of N1,134,491,604.31loss as a result of system glitch that allowed customers with no debt instructions on their accounts to initiate  transfers without their account being debited, LOTUS BANK, has filed an application before Federal high court in Lagos against 45 financial institutions in the country.

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