Stanbic IBTC Staffer Arraigned For Allegedly Defrauding Bank Of ₦205M
A staff member of Stanbic IBTC bank, Ajayi Olusola, has been arraigned before a Lagos Federal High Court, for allegedly defrauding the bank of a whooping Twenty Hundred and Five Million (₦205,000,000.00) only.
Ajayi, who now operates a limited liability company, Abel System Services Limited, is accused of committing the alleged fraud between 2015 and 2021, while on the employment of the bank.
He was also alleged to have committed the fraud alongside one Ayodele Olaogun and Hakeem Adisa Abdulhadi, who are said to be 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 staffer contravened sections 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 prosecutor also alleged that the offence contravened Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 as Amended in 2012.
However, the former banker pleaded not guilty to the charges.
Following his not guilty plea, the prosecutor though opposed his bail argued by the defence counsel Bamidele Ogundele. He was admitted to bail in the sum of ₦50 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 be a landed property owner within the court’s jurisdisction.
The court has adjourned till 10 November for commencement of trial.
The charges against the defendant teads: “that you Ajayi Olusola ‘M’, Abel Systems Services Nigeria Ltd, Ayodele Olaogun, Mr. Hakeem Adisa Abdulhadi (both now at large), between 2015 and 2021 at Stanbic IBTC Bank in Lagos, within the Jurisdiction of the Federal High Court while working as a staff at Stanbic IBTC Bank did conspired amongst yourselves and others now at large to commit a felony to wit: obtain the sum of Two Hundred and Five Million Naira (₦205,000,000) only property of Stanbic IBTC Bank by false pretences and thereby committed an offence contrary to Section 8(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No 14 of 2006.
“That you Ajayi Olusola ‘M’, Abel Systems Services Nigeria Ltd, Ayodele Olaogun, Mr. Hakeem Adisa Abdulhadi,,( both now at large) between 2015 and 2021 at Stanbic IBTC Bank in Lagos, within the jurisdiction of the Federal High Court while working as a staff at Stanbic IBTC Bank by False Pretence and with intent to defraud, obtained the sum of Two Hundred and Five Million Naira (₦205,000,000) only property of Stanbic IBTC Bank by falsely representing to the bank that you applied the funds as approved by the Board of the bank for the purpose of offsetting written off debt otherwise known as Bad Debit, Whereas you credited Abel Systems Services Nig. Ltd and subsequently converted the money to your own use and benefits amongst yourselves and others at large. The representation you knew to be false or did not believe to be true or which you made recklessly and thereby committed an offence contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No 14 of 2006.
“That you Ajayi Olusola ‘M’, Abel Systems Services Nigeria Ltd, Ayodele Olaogun, Mr. Hakeem Adisa Abdulhadi both now at large, between 2015 and 2021 at Stanbic IBTC Bank in Lagos, within the jurisdiction of the Federal High Court, did convert to your own use and benefits the sum of Two Hundred and Five Million Naira
(₦205,000,000) ony property of Stanbic IBTC Bank, which sum you knew or reasonably ought to have known, was the proceed of an unlawful act, to wit: obtaining money by false pretences from Stanbic IBTC Bank, Lagos and thereby committed an offence punishable unwder Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 as Amended in 2012.”
