MONROVIA– Afriland First Bank Liberia Limited has confirmed the arrest and prosecution of several employees linked to a $165,000 fraud scheme, pledging strict accountability and reaffirming its zero-tolerance stance on financial impropriety.
In a press release issued Wednesday, the bank said an internal investigation uncovered the alleged scheme, prompting management to call in the Liberia National Police. The accused staff have since been charged and forwarded to court.
“As a law-abiding financial institution and responsible corporate citizen, Afriland First Bank Liberia maintains a zero-tolerance policy toward fraud and financial impropriety of any kind. We will continue to cooperate with the relevant authorities to ensure that due process is followed and justice is served,” the bank stated.
Key Suspect in Custody
At the center of the case is 38-year-old G. Rufus Togba, a former branch manager accused of orchestrating unauthorized withdrawals and fraudulent transfers. He faces multiple charges, including theft of property, criminal conspiracy, facilitation, and money laundering. Togba was arrested on December 16, 2024, and remains in custody as prosecutors finalize the case.
Investigators also uncovered a separate $100,000 theft involving other employees. Some have been charged in absentia and remain at large, while authorities continue to probe whether internal banking safeguards were compromised. Corporate clients allegedly affected include Associate Builders & Contractors, GEOSKOPE Ltd., and MY Sportswear.
Customers’ Deposits Secure
Despite the scandal, Afriland Bank stressed that customer deposits remain safe and operations are ongoing.
“Afriland First Bank Liberia remains committed to upholding integrity, transparency, and accountability. We will do everything in our power to protect customer interests,” the bank said.
The bank confirmed it has already suspended all implicated staff and pledged to tighten oversight measures.
Wider Impact
The Liberia National Police’s Financial Crime Investigation Division (FCID) is handling the case, describing it as a high-priority prosecution. Senior officers, including ACP James H. Deshield III and DCP G. Alvin James, are leading the probe. Authorities say the case will test the country’s banking oversight systems while reinforcing the government’s anti-corruption campaign.
Afriland Bank concluded by assuring the public that all fraudulent actions will be fully prosecuted: “The Liberian public can rest assured that deposits are secure and that all fraudulent actions will be addressed in accordance with the law.”
