Bank Manager, Others Charged With N59m Fraud

Bank Manager, Others Charged With N59m Fraud

The Economic and Financial Crimes Commission at the instance of the United Bank for Africa Plc has arraigned a former Business Manager of the Ilorin branch of the bank, Mr. Siirajudeen Abdullahi, Segun Adelodun, John Afolabi and three others at large, before an Ilorin High Court for allegedly defrauding the bank of N59m.

Those on the run are Badmus Omojasola, Oloruntoba Akinyele and John Balogun.

The money was allegedly stolen from the University of Ilorin Personnel Cost Account.

The charge with number KWS/40C/2012 stated that the accused allegedly pretended that UNILORIN instructed the bank via a letter dated September 14, 2011 with reference number UIL/BUR/681/Vol.1/37 to transfer N59m from the school’s account to the account of Bamestic Ventures (a bureau de change).

The offence, according to the charge, is contrary to Section 1 (3) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006.

Part of the eight-count charge reads, “That you Sirajudeen Abdullahi, Segun Adelodun, John Afolabi, Oloruntoba Akinyele (now at large), Badmus Omojasola (now at large) and John Balogun (now at large) on September 16, 2011 at Ilorin within the jurisdiction of this honourable court with intent to defraud obtained the sum of N59m from the UNILORIN Personnel Cost Account in possession of UBA Plc by falsely pretending that the university instructed the said bank via a letter dated September 14, 2011 with reference number UIL/BUR/681/VOL. 1/37 to transfer N59,006,250 from the UNILORIN Personnel Accounts to the account of Bamestic Ventures (bureau de change) which representation you knew to be false contrary to Section 1 (3) of the Advance Fee Fraud and Other Related Offences Act No. 14 of 2006.”

Abdullahi was also charged with theft of N59m and criminal breach of trust. All the accused pleaded not guilty to the charges.

The prosecutor, Mr. Oyedepo Rotimi, urged the court to remand the accused in prison custody pending the commencement of trial.  But their lawyer, Mr. Basheel Oladipo, prayed the court to remand them in police custody, saying that was the position of the constitution.

Justice Mahmud Jaffar ordered the accused to be remanded in police custody and adjourned the matter till Tuesday (today).

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