Micro Finance Employees Docked Over N5.8m Theft


Three micro-finance bank employees were on Monday docked before an Ebute Meta Magistrates’ Court for allegedly stealing the bank’s N5.8 million.

The accused, Yusuf Olawale, 40, Benard Usiayo, 34, and Omuabor Solomon, 40, are facing trial on a five-count charge of conspiracy, forgery, unlawful possession of documents, impersonation and stealing.

The prosecutor, Sgt. Innocent Effiok, told the court that the accused, between March and April, at 4, Demurin Road, Ketu, Lagos, conspired to steal the money.

Effiok said the accused forged the Infinity Micro-Finance Bank Ltd. loan application forms.

“The accused, with intent to defraud the bank, impersonated some of the bank customers by fixing their names and signatures in various loan forms of the bank, which they knew was a false representation,” he said.

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Effiok said that the accused stole N5.8 million along with the bank property.

According to him, the offence contravened Sections 390,430, 467, 484 and 516(b) of the Criminal Code, Laws of Lagos State.

Magistrate Mr. M. O. Olubi granted each of the accused a bail of N1 million, with two sureties in like sum, after they pleaded not guilty to the charge.

He adjourned the case till Aug. 26 for further hearing.

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