By Vincess
I wish to formally bring to your attention a serious case of fraud, conspiracy, and gross misconduct involving a Moniepoint agent identified as Mr Osugba Sylvester, who conspired and deceived Princess Okushi Chioma, a Moniepoint customer.
Allegations
- Unauthorised Use of BVN:
Mr Sylvester allegedly used Princess Okushi’s BVN to fraudulently open 14 accounts in different names without her knowledge or consent. - Manipulation of Accounts and Loans:
Sylvester managed my Princess Moniepoint account and had full knowledge of all inflows and outflows. He often pressured her to fund the account under the pretext that Moniepoint wanted immediate repayment of loans. Once funds were deposited, he would withdraw or divert the money without accountability. - Business Loss and Indebtedness:
These fraudulent actions severely crippled Princess’s business, leaving her heavily indebted. - Unfinished Investigations by Moniepoint:
In April 2025, we lodged a formal complaint at the Moniepoint office in Ughelli, Delta State, and met with Mr Henry Igbineku, who promised a thorough investigation.
The case was later referred to Lagos under the supervision of Madam Eucharia, the Fraud Investigation Officer, who also assured us of an investigation.
However, the process went silent, and no report was released. Instead, we were later informed that Sylvester had been “sacked” as the only disciplinary action taken.
- Suspicious Continuity of Operations:
Despite claims of his dismissal, Sylvester continues to present himself to customers as a Moniepoint representative, offering loans and conducting business in the company’s name. This raises concerns that insiders within Moniepoint may still shield him.
Concerns
Simply dismissing Sylvester without full disclosure of the investigation findings leaves Princess vulnerable. He may attempt to harass her, claiming she owes him money.
The lack of transparency suggests a possible cover-up within Moniepoint, as Sylvester appears to have been a highly connected agent.
Customers’ BVNs and financial security are at risk if fraudulent actors can operate unchecked within your system.
My Demands
I respectfully request that Moniepoint Inc:
- Conduct and publish a comprehensive investigation report on all transactions linked to Princess’s account since inception.
- Take concrete measures to recover stolen funds and clear any false debts attributed to Princess.
- Investigate and address the possibility of internal collusion that allowed Sylvester to continue fraudulent activities even after his supposed dismissal.
- Provide formal assurances that customers’ BVNs and accounts are safe from fraudulent manipulation within your system.
Moniepoint owes its customers accountability and transparency. A simple dismissal of the accused without exposing the truth of what transpired is grossly inadequate.
I await your prompt action on this matter.
Sincerely,
Qualitytvng.com[qualitytelevision.ng@gmail.com
