They were arraigned before the court presided over by Justice Peter Lifu by the Police Special Fraud Unit (PSFU), in a charge marked FHC/L/172c/2022.
The couple were docked alongside one Abidemi Thomas.
The defendants were specifically arraigned on a five-count charge of conspiracy, obtaining by false pretence, unlawful conversion, and fraud.
According to the prosecutor, Justine Enang, the defendants committed the offences between January and December 2020, at the Aromire Branch, Ikeja, Lagos office of the bank.
He further argued that the couple conspired with some staff members of the bank to fraudulently obtain the sum of N203 865,708.08 million from the Aromire Branch of Standard Chartered Bank Nigeria Limited.
Enang equally argued that the couple in connivance with some officials of Standard Chartered Bank Limited, fraudulently defrauded the bank of the said sum of N203 865,708.08 million, by falsely presenting to the bank that staff of Systemtech Services Limited, needed loans and that the said staff authorized the couple to approach the bank and negotiate for the loans on their behalf and that the salaries and grade levels of all the staff qualified them for the loans.
In his further argument before the judge, Enang posited that both Oluchi Nwachukwu and Abidemi fraudulently converted the sum of N20 million each, part of the defrauded Standard Chartered Bank Nigeria Limited, to their use and benefit, knowing fully well that it was the proceed of an unlawful act and obtained by false pretence.
He told the court the offences committed by the defendants are contrary to Sections 8(a) and 1(1)(a)of the Advance Fee Fraud and other Fraud Related Offences Act and punishable under Section 1(3) of the same Act, and Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 as Amended in 2012.
But the trio pleaded not guilty to the charge