15th November, 2017
The Head of First Academy of First Bank of Nigeria Limited, Iganmu, Lagos, Olufemi Olatokun, 39, has been arrested and arraigned before a Lagos Magistrate Court for allegedly stealing the sum of N62,034,371 belonging to his employer,First Bank of Nigeria Limited.
The accused was arrested by the poliice at the Lion Building Division, Lagos following a complaint by the Management of First Bank.
The accused was charged before an Igbosere Magistrate Court, Lagos on a two-count charge of felony to wit, Stealing.
Police prosecutor, Kingsley Johnson informed the court in charge No D/85/2017 that the accused and others still at large committed the alleged crime between 8 August, 2014 and 30 December, 2015 during working hours at the First Bank of Nigeria First Academy at Iganmu, Lagos.
Johnson told the Court that the accused betrayed the trust reposed on him by his employer as the Head of Academy of the First Bank of Nigeria at Iganmu, Lagos and connived with others still at large to steal the sum of N62,034,371 from the account of his employer and shared it.
Johnson said that the offences the accused committed were punishable under sections 411 and 287(7) of the criminal Laws of Lagos State, 2015.
The accused, however, pleaded not guilty to the alleged crime in the open Court and Chief Magistrate B.A Sonuga granted him bail in the sum of N10,000,000 with two sureties in like sum.
Sonuga adjourned the case till 12 December, 2017 for mention and ordered that the defendant be remanded at the Ikoyi prison, Lagos till when he is able to fulfill the bail conditions.