Bank managers arraigned in court for allegedly stealing employer's N8.7m

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By Paul Iyoghojie

Two Sales Managers with the Peninsula Microfinance Bank Ltd, Ajah, Lagos, Christian Odah and Ibrahim Haruna have been arraigned before a Lagos Magistrate Court for allegedly converting  N8,776,007.78 belonging to their employer which they collected from customers of the bank to their personal use.

The accused were arrested by the Police at Ajah Division, Ajah, Lagos and charged before the Igbosere Magistrate Court on a two-count bordering on conspiracy and stealing.

Police Counsel, Okete Ejime told the court in charge No U/29/2019 that the accused committed the alleged crime between October, 2018 and April, 2019 at Peninsula Microfinance bank Ltd at Conoil Plaza, Ajiwe, Ajah, Lagos.

Ejime informed the court that the accused persons who were Sales Managers with the bank betrayed their employer and converted the sum of N8,776,007.78 they collected from customers of the bank to their personal use instead of remitting the money into their employer’s account.

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He said that while Odah allegedly collected the sum of N2,722,245.33 from customers and converted it to his use, Haruna allegedly converted the sum of N6,054,851.45 to his use without authority.

Ejime said that the offences, the accused committed, were punishable under sections 287(7) of the Criminal Law of Lagos State, 2015.

The accused, however, pleaded not guilty to the alleged crime in the court and Magistrate M.A Agbeje granted them bail in the sum of N200,000 each with two sureties each in like sum.

Agbeje adjourned the case till 25 April, 2019 for mention and ordered that the defendants be kept at the Ikoyi Prison, Lagos till they perfected their bail conditions.

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