First Bank Insurance agent Izuchukwu arraigned over alleged N7.2m fraud

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First Bank Insurance agent Izuchukwu arraigned over alleged N7.2m fraud
First Bank Insurance agent Izuchukwu arraigned over alleged N7.2m fraud

By Paul Iyoghojie

A sales representative with the First Bank of Nigeria Insurance Plc, Okereafor Izuchukwu, has been arraigned before a Lagos Magistrate’s Court for allegedly defrauding two customers of the sum of N7.251, 000 and escaped.

Police alleged that nemesis, however, caught up with Izuchukwu when the two customers petitioned the Assistant Commissioner of Police, ACP in charge of Area ‘A’ Command, Lagos Island, Lagos who directed his men led by Inspector Gboyega Oyeniyi to fish out the suspect and the police team tracked and arrested Izuchukwu at a hideout in Lagos

Izuchukwu, 35, a resident of Ishasi area of Lagos from Imo State was charged before the Tinubu Magistrate’s Court, Lagos Island on a five-court charge of felony to wit, obtaining money under false pretence, fraud and stealing.

Police Counsel, Ajaga Agboko informed the Court in the charge marked W/05/2021 that the defendant committed the offence between 2013 and 2017 during working hours at the LASU, Ojo branch of First bank of Nigeria Insurance Plc.

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Agboko told the Court that the defendant abused the trust reposed in him by his employer as a sales representative and collected the sum of N5, 645,000 from one Olatunji Baliqis Olayemi on the pretence to use the money to process her children’s educational insurance with the First Bank Insurance, but that the defendant instead converted the money to his use.

Agboko said the defendant also collected N1, 600, 000 from another customer, Victoria Collins Jackson on the guise to deposit the money in a fixed account for her with First Bank Insurance, but that the defendant converted the money to his use and escaped before he was arrested.

He said the offences, the defendant committed were punishable under sections 314 (a), 287 and 76 (b) (a) of the criminal Law of Lagos State, 2015.

The defendant pleaded not guilty to the charges and Magistrate A.O Alogba granted him bail in the sum N750, 000 with two sureties in like sum.

Alogba adjourned the case till 9 August, 2021 for mention and ordered that the defendant be kept at the Ikoyi Correctional Centre till he perfected the bail conditions.