Bank manager remanded over ‘N15m fraud’

A Lagos State Special Offences Court sitting in Ikeja has remanded one Mr. Abiodun Sanni, a former manager at Polaris Bank, in a custodial centre over alleged N15,011,441 fraud.

Justice Abike-Fadipe of the State Special Offences Court ordered that the defendant be remanded pending when his bail application would be perfected.

Abiodun was arraigned by the Economic and Financial Crimes Commission (EFCC) on a 16-count charge, which include obtaining credit by false pretences, forgery, use of false documents, and stealing.

According to some of the charges, it is alleged that on or about February 24, 2020, in Lagos, Sanni, while serving as the bank manager obtained a loan of N17,000,000.00 for one Bamgbose Tayo Taofia, who was trading under the name of Banut Haulage.

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He allegedly did so by falsely claiming that the loan was backed by collateral in the form of a fixed deposit account (number withheld) worth N2,540,380.52, which belonged to Yinkus Multibiz Ventures and for which the owner, Mrs. Aderibigbe Olayinka Hannah, had supposedly consented to the use as collateral.

The defendant is also accused of dishonestly converting another fixed deposit account worth N15,011,441.00, belonging to one Atolagbe Joshua Tinuoye.

The defendant however pleaded not guilty to all charges.

The prosecutor, Adewunmi, requested that the court remand the defendant pending the trial date.

“My Lord, we intend to call 10 witnesses regarding this case, and we urge the court to remand the defendant in custody,” said the prosecutor.

In response, the defence counsel, Osho Oludoshu, filed an application for bail.

Justice Abike-Fadipe ruled that the bail application should be submitted to the court before the trial date and adjourned the case to March 6 and March 19, 2025.

“I remand the defendant at the correctional centre, and he is entitled to submit a bail application before his trial date,” the judge held.