A staff of Stanbic IBTC bank, Ajayi Olusola, was arraigned before a Lagos Federal High Court, for allegedly defrauding the bank of N205 million.
Ajayi, who now operates a limited liability company, Abel System Services Limited, was accused of committing the fraud between 2015 and 2021, while still working with the bank.
He was alleged to have committed the fraud against Stanbic IBTC alongside one Ayodele Olaogun and Hakeem Adisa Abdulhadi, who are now at large.
The former banker and his company, Abel System Services Limited, were last Friday, arraigned before the court presided over by Justice Abimbola Awogboro, on a three count-charge of conspiracy, obtaining by false pretence and unlawful conversation, by the men of Police Special Fraud Unit (PSFU), Ikoyi, Lagos.
The prosecutor, Mr. Sylvester Azubuike, told the court that the offences committed by the former Stanbic IBTC staff contravened Sections Section 8(a) and 1(1)(a)and Punishable Under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No 14 of 2006.
The offence also contravened Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 as Amended in 2012.
However, the former Stanbic IBTC staff pleaded not guilty to the charges.
Following his not guilty plea, both the prosecutor and his lawyer, Bamidele Ogundele, argued his bail application and he was admitted to bail in the sum of N50 million with two sureties in like sum.
Justice Awogboro also ordered that both sureties must produce evidence of three years tax payment to the Lagos State government, and that one of the sureties must must be a landed property owner within the court’s jurisdisction.
The court has adjourned till November 10, for commencement of trial.
