The Economic and Financial Crime Commission has arrested a banker with First City Monument Bank, Ini Asuquo Udom, and three others for allegedly diverting N240million Value Added Tax payment from Bayelsa State.

Three other suspects are: Operations Manager, Iyabi; a cashier with Bayelsa Treasure department, Tengi Ayawari and the Cash/ Fund Transfer Officer of the FCMB in Yenagoa, Maku Omoniyi.

All the suspects, who were arrested on December 17, are being detained at the Port Harcourt Office of the EFCC.

According to findings, the suspects had formed a syndicate specialised in the diversion of VAT and Withholding Tax.

It was leant that the arrest of the suspects followed the alarm raised by the Regional Head of Operations of the FCMB, Mr. Maurice Okafor, and the Internal Control Officer, Mr. Okwong Amba, after the discovery of the fraud.