Ex-Bank Manager Remanded For N122m Fraud

• A man has been charged to court over his involvement in fraud.

• Daily Report Nigeria gathers that the manager allegedly stole the sum of N122,011,441 from different bank accounts.

A former New Generation bank manager has been arraigned in court, following his involvement in fraud.

According to reports, the accused, identified as Abiodun Sanni has been made to face the law, after allegedly defrauding people of N122,011,441.

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While arraigning him in the Lagos State Special Offence court, the EFCC’s prosecution counsel, O. Adewunmi, said Sanni committed the on or about February 24, 2020, in Lagos.

Sanni was arraigned on 16 counts bordering on obtaining credit by false pretences, forgery, use of false documents and stealing by the Economic and Financial Crimes Commission.

He added that during his time as a manager, he obtained credit in the form of a loan in the sum of N17m, for one Bamgbose Tayo Taofia trading under the name and style of Banut Haulage.

He added that he falsely obtained the loan from Polaris Bank Limited, while claiming the loan had  collateral in the form of a fixed deposit account number 0071572791, worth N111,540,380.52 belonging to Yinkus Multibiz Ventures and that the owner, one Mrs Olayinka Hannah Aderibigbe, consented to it being used as collateral.

Aside that, he also converted a Polaris Bank Limited Fixed deposit with N15, 011,441.00 (Fifteen Million, Eleven Thousand, Four Hundred and Forty-One Naira) inside it to himself.

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The defendant however pleaded not guilty to these accusations.

The prosecuting counsel further enjoined the court to remanded the accused, pending the trial.

In a short ruling, Justice Olubunmi Abike-Fadipe adjourned the case and ordered that the bail application should be submitted to the court before the date of trial.

“I adjourn this case to Match 6 and 19, 2025, and I remand the defendant at the correctional centre. They are entitled to bring a bail application before his trial date”, the judge held.