Lagos banker arraigned for defrauding bank's customers

The police in Lagos have detained Emmanuel Ajofoyinbo for allegedly stealing N7.110 million from the bank's clients. Fortress Microfinance is situated in Lagos.

Police present Ajofoyinbo, whose residence is unknown, before an Ikeja Magistrates' Court with a two-count charge of acquiring money by false pretence and stealing.

The banker allegedly obtained the funds from bank clients under the pretense of depositing them into their accounts, according to the authorities.

Without getting permission from the bank, Ajofoyinbo converted the funds for his own use.

The defendant committed the crime at No. 223 Ikorodu Road, Ilupeju, Lagos, between August 2022 and May 2023, according to the prosecutor, ASP Josephine Ikhare.

According to the prosecutor, the offences were in violation of Sections 314 and 287 of the Lagos State Criminal Law from 2015.

Section 314 prescribes a 15-year prison sentence for buying something under false pretence, while Section 287 stipulates a three-year sentence for theft.

However, the defendant entered a not-guilty plea to the accusations.

Ajofoyinbo was given bail by the magistrate, L. A. Owolabi, in the amount of N500,000 with two sureties in the same amount.

Owolabi then put the issue on hold until June 26 so it could be discussed further.

Source