Rafiu was arrested by the police on Monday in Ilorin, Kwara State capital.

According to sources in the area familiar with the issue, Rafiu went on a spending spree after he received the alerts in batches some weeks back.

“But instead of him to draw the attention of the bank that mistakenly transferred the huge fund, he went on a spending spree.

“Rafiu bought houses, and cars and sponsored people to lesser Hajj. Although he was generous to several people in the community, some residents were surprised about his sudden wealth as a POS operator,” one of the sources said.

It was further gathered that the bank auditors later discovered the error and sent law enforcement agents after Rafiu who was arrested and moved to Lagos.

When contacted, the state Police Public Relations Officer, SP Ajayi Okasanmi, confirmed the incident.

“His arrest was carried out by the Force Criminal Investigation and Intelligence Department from Alagbon-Close, Ikoyi, Lagos which makes it out of our jurisdiction,” Okasanmi said.