27th June, 2011
A financial adviser at the Royal Exchange Assurance PLC, Cynthia Obioro, has been arraigned before the Ikeja Magistrate’s Court sitting at Oshodi for collecting and obtaining money on false pretence.
She was alleged to have used contributions of clients for his personal purpose.
Her primary duty as a financial adviser in the company, P.M.NEWS gathered, was to collect daily contributions from clients, convass and collect insurance premium from them and remit same to the company so that official receipts can be be issued.
The company, it was learnt, discovered that he failed to pay premiums received from clients into its account when some clients came for their benefits.
She was alleged to have defrauded the company to the tune of N1,753,600 between April and February 2009.
In her explanations, she disclosed that she was duped on her way home, adding that she remitted what was left to the company’s account.
“I need the company to give me sometime to refund the money, I collected money from clients and remitted a little amount before I was duped,” she said.
The prosecutor, Sgt. Festus Osawale, said her offences are punishable under Sections 434, 390(8)(B) of the Criminal Code, Cap.C.17, Vol.II, Laws of Lagos State of Nigeria, 2003.
The presiding magistrate, Senior Magistrate Osho Adebiyi adjourned the matter till 4 July, 2011 for a report of settlement.
—Henrietta Ikhile