Bank Manager Sent To Jail Over N60m Fraud


A branch bank manager of a new generation bank in Lagos State, Southwest Nigeria, Mr Julius Adekuoroye has been arraigned before a Yaba Magistrate’s court on the allegation that he stole N60 million while he was the bank manager.

He was remanded in Ikoyi prison, Lagos after he was arraigned and granted bail and was unable to meet the bail conditions.

The 37-year old manager of the bank located at 15, Itire Road, Ojuelagba, was alleged to have stolen the bank’s money between 2008 and 2011.

He was arrested by the police at State Criminal Investigation Department, SCID, Panti, Yaba when he could not give a satisfactory explanation about the money. The police charged him to court with stealing.

P. M.NEWS gathered that the embattled manager allegedly gave out the money on loan but could not recover it before it was discovered by the bank management.

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When the management confronted him about the money, he could not account for it.

He was handed over to the police who charged him to court with stealing under section 390 of the criminal code.He pleaded not guilty.The presiding Magistrate, Mrs S. K. Matepo granted him bail in the sum of N2 million with two sureties in like sum.

The matter was adjourned till 7 July, 2012 while he was remanded in prison custody at Ikoyi pending when he will meet his bail conditions.

—Cyriacus Izuekwe

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