3 Bankers Remanded Over N5.2m Fraud


An Ebute Meta Chief Magistrate’s court sitting at Oyingbo, Lagos, Southwest Nigeria has ordered three staff of Infinity Micro Finance Bank, Ketu, Lagos be remanded at Ikoyi Prison.

There were on trial at the court for allegedly stealing N5.2 million from customers’ accounts.

The suspects, Yusuf Olawale Olalekan, 40, Bernard Usuayo, 34 and Omua Abor, 35, were alleged to have conspired to steal N5.2 million from the bank’s coffers by using accounts of different customers. They allegedly committed the act between March and April, 2011.

P.M.NEWS gathered that the three bankers allegedly filled different application loan plans for the bank’s customers, such as ‘ego beta’, ‘bless silver’, ‘bless gold’, ‘ida’ and festival account to steal the money from different accounts of the customers.

They were arraigned on five-count charge of conspiracy, forgery, impersonation, false presentation and stealing.

The prosecuting police officer, said the offences are punishable under Sections 516, 467,430, 484 and 390 of the Criminal Code Cap. C17, Vol. 2, Laws of Lagos State of Nigeria, 2003.

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They pleaded not guilty.

Mr. M. O. Olubi, the presiding magistrate granted them bail in the sum of N1 million with two sureties each in like sum.

The sureties must show evidence of three years tax payment to the Lagos State Government, evidence of means of livelihood and must be residing within the magisterial district.

The case has been adjourned till 26 August, 2011 for trial.

The three bankers were later moved to Kirikiri Prison as they could not perfect the bail conditions in good time.

—Paul Sanusi

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