₦airaland Forum

The arraignment of United Bank for Africa Plc and four others over an alleged N4.29 billion foreign exchange fraud was stalled on Wednesday following the absence of the defendants in court.

The case came up before Justice Rahman Oshodi of the Lagos State Special Offences Court sitting in Ikeja, where the Economic and Financial Crimes Commission had scheduled the defendants for arraignment.

UBA is facing trial alongside Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited and Fedat Global Limited.

The EFCC filed a four-count charge against the defendants bordering on alleged foreign exchange infractions, concealment of proceeds of unlawful activities, retention of criminal proceeds and money laundering.

According to the anti-graft agency, the alleged offences involved the sum of N4,290,112,796.72. One of the counts accused the defendants of conspiring, between September 14, 2022 and March 20, 2023, to sell foreign exchange above rates stipulated by the Central Bank of Nigeria.Nigerian business directory

Another count alleged that the defendants concealed the sum of N4.29 billion in a United Bank for Africa account, which the EFCC said was derived from an illegal act.

When the matter was called on Wednesday, prosecution counsel, T.J. Banjo, announced appearance for the EFCC.

Adewale Kamourudeen appeared for UBA, Akinyemi and Stephen, while I.S. Hassan represented Geeos Global Service Limited. There was, however, no legal representation for Fedat Global Limited.

Addressing the court, Banjo said the matter was fixed for report of service of court processes and arraignment of the defendants.

He told the court that all the defendants had been duly served with the charge and other relevant processes, adding that affidavits of service had already been filed.

The prosecutor accused the defendants of attempting to frustrate the trial by staying away from court. Banjo also informed the court that the EFCC had made efforts to arrest the second and third defendants after they allegedly jumped administrative bail earlier granted to them by the Commission.

He said he was surprised that the defendants failed to appear despite being served with the charge and hearing notices. But counsel to UBA and the two individual defendants, Kamourudeen, disagreed with the prosecution.

He told the court that his clients had not been served with the charge or any court process relating to the case. According to him, the defendants only became aware of the matter through media reports.

“The first, second and third defendants have not been served with the information or the hearing notice for today’s proceedings or the previous adjourned date. We got wind of it through newspaper reports. That is why we are here,” he said.

Kamourudeen added that he needed to inspect the court file to confirm the proof of service relied on by the prosecution. Responding, Banjo dismissed the claim, saying UBA’s Compliance Officer, Chima Okugbo, received service on behalf of the bank and the two individual defendants.

He told the court that Okugbo had consistently represented the bank during the investigation and was the same person who accepted service on behalf of the officials.

Justice Oshodi then asked the defence counsel whether he was willing to accept service on behalf of his clients, but he declined, saying he had no instruction to do so.

The judge subsequently adjourned the case till June 16, 2026, for report of service, arraignment and further proceedings.

Source: https://www.newsngr.com.ng/2026/06/breaking-more-woes-for-uba-as-efcc-drags-bank-to-court-over-n4-2-billion-fraud/

The Nigeria Deposit Insurance Corporation (NDIC), acting as liquidator of the defunct Gulf Bank Plc, has filed two separate suits against Wema Bank Plc at the Federal High Court in Lagos over disputed Banana Island properties valued at about N125.38 billion, alongside an alleged unauthorised payment of N401 million.

The suits, brought under the Failed Banks (Recovery of Debts and Financial Malpractices in Banks) Act, form part of NDIC’s ongoing efforts to recover assets linked to the liquidation of Gulf Bank Plc nearly two decades after its collapse.

Court filings indicate that the disputes centre on two sets of six luxury properties located in Banana Island, Lagos, which NDIC said were traced to companies allegedly linked to the defunct bank.

In the first suit, NDIC alleged that six properties in Zones J, K, L and P of Banana Island were acquired between 1998 and 2003 by Euston Wenberg Engineering Company Limited, which it described as a shell company allegedly used by Gulf Bank.

The Corporation said the properties cover approximately 13,794.145 square metres and are valued at N62.07 billion, based on a market rate of N4.5 million per square metre.

NDIC further alleged that Wema Bank took custody of the assets as security for an interbank placement of N771.79 million. However, it said a joint inspection conducted by the Central Bank of Nigeria (CBN) and NDIC in September 2005 found no record of such a deposit in Gulf Bank’s books.

It also alleged that Wema Bank later presented two managers’ cheques issued by Access Bank Plc and the defunct Intercontinental Bank Plc, totalling N250 million, in favour of Euston Wenberg Engineering, arguing that the transaction suggested a sale rather than recovery of a legitimate interbank placement.

The Corporation insisted the alleged valuation was unrealistic, arguing that a single Banana Island property was worth more than N500 million at the time.

In the second suit, NDIC accused Wema Bank of taking control of another six Banana Island properties allegedly acquired through Bacad Finance and Investment Limited, now known as Supra Commercials Limited.

NDIC said Gulf Bank injected N20 million into Bacad Finance in 2001 and another N60 million in 2003, giving it over 80 per cent equity, and that the funds were used to acquire additional plots measuring about 13,979.974 square metres, now valued at N62.9 billion.

The Corporation alleged that Wema Bank, without any valid mortgage, court order or ownership claim, took possession of the assets and later claimed to have sold them for N524 million through managers’ cheques issued in 2006 and 2007.

NDIC described the transaction as grossly undervalued, insisting that each property was worth over N4 billion at the time of sale.

The agency also accused Wema Bank of unlawfully collecting N401 million from United Bank for Africa (UBA) Plc in September 2009, despite an earlier approval limiting its entitlement to N1.635 million from Gulf Bank’s liquidation proceeds.

NDIC said its investigation was supported by senior lawyers and retired security officials, including Dada Awosika (SAN), Pekun Sowole, retired Deputy Inspector-General of Police Abiodun Alabi, and former head of NDIC’s Criminal Investigation Unit, J.I. Okolonji.

It also disclosed that the case had been referred to the Economic and Financial Crimes Commission (EFCC) for further investigation.

In its reliefs before the court, NDIC is seeking an order nullifying the alleged transactions, compelling Wema Bank to return the title documents or pay the current market value of the properties, and refund the disputed N401 million.

It also urged the court to impose sanctions on the bank’s executives should they fail to comply with any eventual orders.

Wema Bank, however, has challenged the suits, arguing that the Federal High Court lacks jurisdiction to hear the matter, insisting that the dispute is one of land ownership rather than debt recovery.

The bank further contended that the claims are statute-barred, noting that the disputed transactions occurred between 2006 and 2007.

The matter has been adjourned to June 25, 2026, for hearing of jurisdictional objections and other preliminary issues.

Source: https://www.newsngr.com/ndic-sues-wema-bank-over-alleged-n125-38bn-banana-island-assets/

The arraignment of Indian-born Nigerian businessman Sunil Vaswani and his company, Stallion MG Automobiles Limited, in an alleged N2 billion money laundering case could not proceed at the Federal High Court in Lagos, as the defendants were absent.

According to the Economic and Financial Crimes Commission (EFCC), Sunil Vaswani is currently at large. He was due to be arraigned together with Harpreet Singh and Olalere Tajudeen, both directors of the automobile firm.

However, none of the defendants showed up in court, and no counsel appeared to represent them.

The EFCC is separately prosecuting another Vaswani-linked company, Stallion Auto Keke Limited, alongside Tajudeen, over distinct allegations of laundering billions of naira.

In the two sets of charges, the anti-graft agency accused the defendants of jointly laundering approximately N2.06 billion between November 2022 and February 2024.

The charges primarily revolve around the alleged failure to declare high-value cash transactions to the Special Control Unit Against Money Laundering (SCUML), as mandated by law.

One count specifically claims that between February 14 and November 29, 2023, Vaswani, Stallion MG Automobiles Limited, Singh, and Tajudeen did not notify SCUML before depositing N655.35 million into a Providus Bank account.

In a separate charge, Stallion Auto Keke Limited and Tajudeen were accused of similar violations involving N1.405 billion between November 2020 and December 2021.

The EFCC stated that these actions violate the provisions of the Money Laundering (Prohibition) Act, 2022.

During Thursday’s court session, EFCC prosecutor Henry O. Anaso informed the court that all attempts to ensure the defendants’ presence had failed, leading to an application for adjournment.

Justice Chukwujekwu Aneke approved the request and rescheduled the matter for July 21 for arraignment.

This development adds to the growing number of high-profile financial crime cases stalled by the non-appearance of defendants, sparking worries about the effectiveness of enforcement and compliance in Nigeria’s anti-money laundering system.

READ: https://www.thetimes.com.ng/2026/04/efcc-to-arraign-sunil-vaswani-harpreet-singh-others-over-n2bn-fraud/

15 Year Old Maduka University Student Dies After Injection at School Hospital

In a devastating incident that has shaken Maduka University, 15 year old first year nursing student Obi Divine Chisom died on December 9, 2025, under circumstances that have raised profound questions about medical care and emergency protocols at the institution. The young student, who was reportedly in good health before seeking treatment, lost her life following what began as a routine visit to the campus hospital for a stomach ache.

According to eyewitness accounts, Chisom arrived at the school hospital conscious and alert, complaining only of abdominal discomfort. Medical staff drew blood samples for testing, but before results were available, administered a diclofenac injection to address her symptoms. What followed was a rapid and alarming deterioration that witnesses say should have triggered immediate emergency intervention.

Shortly after receiving the injection, Chisom began experiencing severe respiratory distress and was placed on oxygen support. Witnesses reported observing her body turning yellow, her lips becoming dry and motionless, and her body growing cold unmistakable signs of a serious medical emergency. However, when concerned observers pointed out these alarming changes, a nurse reportedly dismissed their concerns, claiming the discoloration was simply Chisom's normal complexion and insisting nothing was wrong.

The situation grew more troubling when the duty doctor, identified as Dr. Ifeanyi, arrived on the scene. According to witnesses, he cleared everyone from the room and moved Chisom to another area, stating she needed urgent transfer to an external hospital. The room was then locked, leaving the student unattended. When witnesses were finally permitted back inside, they were informed that Chisom had died and her body needed to be transferred to the morgue.

The handling of Chisom's transport has raised additional red flags. Dr. Ifeanyi, a former National Youth Service Corps member who was retained by the university after completing his service year, personally drove the ambulance rather than using the regular driver. The vehicle reportedly lacked oxygen equipment, and no staff members accompanied the body to the external facility. Witnesses noted that all medical personnel were already present at the receiving hospital when the ambulance arrived, leading them to conclude that Chisom had actually died before leaving the campus.

The university has reportedly told Chisom's friends that she did not die at the school, a claim that directly contradicts eyewitness statements and has intensified concerns about transparency and accountability. This discrepancy has left those who witnessed the tragedy feeling dismissed and disbelieved, adding to their grief and frustration.

Chisom's parents have reportedly not responded to communications from the school, presumably devastated by the sudden and shocking loss of their daughter. The young student had been full of promise and excitement about her future, with plans for a new job and travel scheduled for the following Saturday. Her phone remains with her friends, serving as a heartbreaking reminder of a life filled with potential that was tragically cut short.

This incident has exposed critical questions that demand answers. Why was medication administered before test results were available? Why were obvious warning signs dismissed by nursing staff? What protocols govern emergency transfers, and were they followed? Why did the duty doctor personally drive the ambulance without proper equipment or accompanying personnel? And perhaps most troubling, why are there conflicting accounts about where and when this student actually died?

The apparent failures in this case are manifold. The premature administration of medication, the dismissal of clear symptoms of distress, the removal of witnesses from the scene, the questionable transfer procedures, and the subsequent conflicting narratives all point to serious deficiencies in medical care, emergency response, and institutional accountability at Maduka University.

Educational institutions have a fundamental duty of care to their students, particularly when those students seek medical treatment on campus. Parents who send their children to university trust that basic standards of medical competence and ethical conduct will be maintained. The circumstances of Chisom's death represent a profound breach of that trust and suggest systemic problems that extend beyond individual error.

The university administration must provide a complete and transparent account of the events that led to this tragedy. An independent investigation should examine whether proper medical protocols were followed, whether staff had adequate training and resources to handle medical emergencies, and what systemic failures contributed to this outcome. The findings must be made public, and those responsible for any negligence or misconduct must be held accountable.

Beyond individual accountability, concrete measures must be implemented immediately to prevent such a tragedy from recurring. This should include a comprehensive review of medical protocols, mandatory emergency response training for all medical staff, proper equipment maintenance and availability checks, clear guidelines for patient transfers, and transparent reporting mechanisms for medical incidents.

Obi Divine Chisom's death is not merely a statistic or an unfortunate accident. It represents a young life full of dreams and potential, a daughter lost to her grieving parents, and a friend whose absence will be felt by all who knew her. Her memory demands more than sympathies it demands justice, accountability, and meaningful change to ensure that no other student suffers a similar fate. The academic community, regulatory authorities, and the public have a right to answers, and Maduka University has an obligation to provide them.

The Vanguard for Probity and Accountability has accused the board of the Nigerian National Petroleum Company Limited (NNPCL) of extravagance amid ongoing financial controversies.

In a statement issued in Port Harcourt on Thursday, Joel Abba, national coordinator of the group, alleged that the NNPCL board has concluded plans to fly to Kigali, Rwanda, this Friday using five private jets.

He claimed the jets were arranged by the son-in-law of a highly influential politically exposed person and the entire trip would cost over N1 billion.

His words: “The discovery leaves more to be desired. To add salt to injury, the board has planned an extravagant trip to Kigali, Rwanda this Friday on five private jets, which amount to over a billion naira.

“This is absurdity taken too far. We are obviously being taken for granted by this crop of leaders manning our oil sector.

“Little wonder Nigerians have been paying heavily on petrol just for a few individuals to finance an obscene lifestyle.”

Abba also accused the NNPCL of financial recklessness, citing recent revelations by the senate over discrepancies totaling more than N210 trillion in the company’s audited accounts from 2017 to 2023.

The senate, during a hearing on Wednesday, gave the NNPCL one week to explain what lawmakers described as “mind-boggling” irregularities in accrued expenses and receivables in its financial statements.

Aliyu Wadada, chairman of the investigative committee, labeled the discrepancies as “unacceptable” and vowed that the Senate would exercise its full oversight powers to get accountability from the oil company.

Backing the Senate’s probe, Abba said the NNPCL has shown “crass insensitivity, arrogance, and a lack of accountability” and called on the upper legislative chamber to remain firm.

He said the situation raises serious questions about the use of public resources at a time when many Nigerians are grappling with economic hardship.

Source:- https://www.thetimes.com.ng/2025/06/nnpcl-board-hired-five-private-jets-to-fly-to-rwanda-for-retreat-group-reveals/

Cool Financial Services, a Lagos State-based microfinance bank, has sued First City Monument Bank (FCMB) for allowing Goewe and Sons Ltd., one of its borrowers, to withdraw a N150 million loan sum from an account with an active freezing instruction.

Goewe and Sons Ltd. is a merchandise company owned by Ewere Godwin Orobosa. In July 2023, the company first approached the microfinance bank for a N100 million loan at a 3.5% interest rate for a duration of 30 days.

Again, in September 2023, the company obtained an additional loan of N50 million at an interest rate of 1.5% for a month, bringing the entire loan to N150 million.

The borrower intended to pursue a contract and needed to have the said amount in its bank account, but the loan was not to be used to execute the potential contract.

Both Goewe and Sons Ltd. and Cool Financial Services then instructed FCMB to freeze the loan account so that the loan sum could remain untouched for the period of the transaction, according to a loan agreement dated September 18, 2023.

Front page of the loan agreement.

The borrower had earlier written to the bank to alter its account mandate through a board resolution dated September 15, 2023. The borrower appointed Ewere-Egharevba Orobosa, representing the borrower, and Roseline Anibueze, representing the lender, as ‘Category A’ signatories to the account.

The directive further specifically stated that the representative of the lender shall have the power to authorise any withdrawal below N150 million from the account while any withdrawal exceeding that amount shall be jointly authorised by the two signatories.

“Those measures were put in place to guarantee compliance with the terms and conditions of the loan facility,” Oluwafemi Adediran, head of the legal unit at the microfinance bank, told us on Wednesday.

The borrower had earlier written to the bank to alter its account mandate through a board resolution dated September 15, 2023. The borrower appointed Ewere-Egharevba Orobosa, representing the borrower, and Roseline Anibueze, representing the lender, as ‘Category A’ signatories to the account.

The directive further specifically stated that the representative of the lender shall have the power to authorise any withdrawal below N150 million from the account while any withdrawal exceeding that amount shall be jointly authorised by the two signatories.

“Those measures were put in place to guarantee compliance with the terms and conditions of the loan facility,” Oluwafemi Adediran, head of the legal unit at the microfinance bank, told us on Wednesday.

Second page of the loan agreement.




After the loan duration expired, the lender wanted to withdraw it. So, on October 23, 2023, the microfinance bank presented a transfer cheque at the Chevron branch of FCMB in Lagos confident that the money was intact. But the cheque was dishonoured and the bank revealed that the borrower had already withdrawn the loan.

“Upon our investigations and findings, we became aware albeit shocked that you disregarded the lien on the account and processed a loan of N150,000,000 (one hundred and fifty million naira) on the back of the restricted facility meant only as proof of funds. What is more, we are alarmed not only by this act but by the temerity and obviously premeditated criminal falsification of the signatures of the representatives of our client as signatory ‘A’ before the consummation of the unauthorised mindless transaction,” Justice John, a legal practitioner, wrote to a business manager at Sanusi Fafunwa Branch of FCMB and the FCMB managing director on behalf of the lender on September 26, 2023 and October 26 respectively.

Third and last page of the loan agreement.


On October 25, 2023, the lender visited the Sanusi Fafunwa Branch. There, Chukwuma Chukwuka and Isiaq Babatunde, both officials of the bank, appealed for a cure period of 72 hours to remedy the situation. An additional 48 hours was given to the bank to sort out the issue internally, according to a November 2023 court filing signed by Anibueze.

Those cure periods were not adhered to. On October 31, FCMB through Tosin Talabi and Akin Akintola, both legal counsel and head of litigation for the bank, said it had commenced an investigation into the issue.

“In accordance with our internal procedure, we have commenced investigations into the issues raised in your letter under reference and shall revert to you shortly with the bank’s position once the investigation (sic) is concluded,” the legal counsel wrote.

FCMB’s October 31, 2023 letter promising to investigate the issue.




“At the time we went to the bank to verify how the money was withdrawn, we found out that the freezing instruction was still active on the account. We observed that our director’s signature was forged to make the withdrawal. The question the bank has not answered is, ‘How was it possible to withdraw money from an account with an active no-withdraw order?'”

More than a year after the letter referenced above, the bank was yet to reveal the findings of its investigation.

SEEKING REDRESS THROUGH COURT

In November 2023, the lender filed a suit marked FHC/2377/2023 before a Federal High Court in Lagos seeking to recover losses it had incurred as a result of what it considered “a criminal conspiracy”.

Sued in the lawsuit were FCMB as the first defendant, the borrower as the second defendant and the Central Bank of Nigeria (CBN), FCMB’s regulator, as the third defendant.Z

Front page of the court filing.




“A declaration that the action of the 1st defendant amounts to breach of fiduciary duties owed to the plaintiff,” the first leg of the relief read.

“An order directing the 1st defendant to immediately pay the plaintiff its capital in the sum of N150,000,000 (One Hundred and Fifty Million Naira Only) with (an) interest rate of 21% per annum or at the prevailing Central Bank of Nigeria’s rate from October 23, 2023, when the plaintiff’s transfer request was dishonoured by the 1st defendant despite the plaintiff’s account being funded; and without any satisfactory explanation by the 1st defendant to the plaintiff.

“General damages in the sum of N250,000,000 (Two Hundred and Fifty Million Naira Only) against the 1st defendant for the economic loss, embarrassment and financial exposures suffered by the plaintiff as a result of the devastating action of the 1st defendant, bearing in mind that the plaintiff is in the business of loans and SMS financing.

“An order of this honourable court directing the 1st defendant to pay interest on the judgment sums at the rate of 21% per annum or at the prevailing Central Bank of Nigeria’s rate, from the commencement of this suit till the date of judgment, and 14% per annum from the delivery of judgment till liquidation of the entire judgment sum to the plaintiff.

“An order of this honourable court directing the 3rd defendant to enforce compliance of the 1st defendant by drawing from the deposits of the 1st defendant in its care to settle all monetary sums and liabilities thereof by the 1st defendant herein in the event that the 1st defendant is unable to pay same.

“The cost of this action in the sum of N5,000,000 (Five Million Naira).”

The court has not fixed a hearing date for the case. At press time, We learnt that FCMB had not filed any response to the lender’s filings.

FCMB had not responded to a request for comments at press time. On January 15, Rafiu Muhammed, a corporate affairs and media management officer at the bank, acknowledged our email on the phone and promised that the bank would investigate and respond soon.

When asked to be specific when the bank would respond, Muhammed said, “I don’t want to give you an unrealistic time. But we will investigate and respond very soon.”

We sent him a reminder on January 24 and Muhammed responded, “Give us till next week.”

We called him again on Wednesday and Muhammed requested one more week. “We will try to expedite our investigation. Give us till next week,” he repeated.

THE BORROWER’S RESPONSE

In the court documents, the lender accused the borrower of falsifying Anibueze’s signature and conspiring with the bank to withdraw the money.

On January 15, we contacted Godwin Ewere, the director of the borrower, for his comments. He denied falsifying any signature, stating that he had defrayed the loan and was no longer indebted to the lender.

“The loan obtained from Cool Financial Services has been fully paid and liquidated. We no longer owe Cool Financial Services. No signature was forged whatsoever,” Ewere said, adding that he also wanted to sue FCMB.

“I don’t want to say anything, because I want to sue FCMB.

“I am ready to meet them in court. I still see my name on (the) credit bureau that I am owing them [the lender]. They are saying over N20 million, which I don’t understand.”

Ewere showed us a harmonised document containing a series of cheques he issued in the name of the lender.

When we relayed Ewere’s response to the lender’s head of legal unit, he said it was a lie. He maintained that the borrower defaulted in repaying the loan and also withdrew the money illegally.

Court Grants Leave to Commence Bankruptcy Proceedings Against Billionaire Business woman, Mrs. Chioma Ude

A Federal High Court sitting in  Lagos has authorized creditors to initiate bankruptcy proceedings against prominent billionaire businesswoman Mrs. Chioma Ude, in connection with an alleged debt of ₦1,700,000,000:00 (One Billion, Seven Hundred Million Naira). This decision, rendered on April 30, 2024, followed deliberations where the court considered the arguments presented by the creditor’s counsel,  Olisa Agbakoba Legal.

The court’s ruling, delivered by Mr. Justice Allagoa, deemed the evidence presented by the creditors as prima facie, thereby granting their prayer to commence bankruptcy proceedings against Mrs. Ude.

Bankruptcy proceedings, regarded as a forceful means to recover debts, carry significant ramifications for Mrs. Ude, potentially impeding her business endeavors both within Nigeria and internationally. If declared bankrupt, Mrs. Ude would be compelled to disclose all her assets and liabilities, with her properties subject to sale for debt settlement.

Operatives of the Force Intelligence Unit of the Nigerian Police have brought Alfred Emmanuel, a staff member of United Bank for Africa (UBA), before a Lagos Magistrates’ Court for his involvement in a massive fraud.

Alfred, aged 39, is accused of conspiring with other unnamed accomplices to fraudulently withdraw the sum of N356,730,000 from the account of Professor Abiodun Johnson, a customer of the bank.

The accused allegedly forged the withdrawal booklet on the professor’s account and withdrew the funds without consent.

They are believed to have converted the money to their personal use and subsequently fled. Alfred was reportedly attached to the University of Lagos (UNILAG) branch of UBA. While he has been apprehended, the other staff members involved in the fraud remain at large.

According to the police, the accused withdrew the money at different times to various accounts from where they withdrew and shared it.

Police further alleged that the secret became open when the Intelligence operatives at the Force Headquarters received a tip-off of the alleged fraudulent act and swiftly swung into action.

After days of intelligence gathering, Alfred was arrested at a hideout in Lagos.

A Police source revealed that operatives were intensifying efforts to arrest other suspects involved in the fraud.

Alfred was charged before the Igbosere Magistrates’ Court sitting at the Tinubu Magistrates’ Court, Lagos Island on a six-count bordering on conspiracy, fraudulent withdrawal, stealing and forgery, after an investigation by SUPOL Hyginus Idoko and his team.

Police prosecuting Counsel, Friday Mammeh told the Court in the charge marked W/25/2024 that the defendant and others still at large committed the offence between October 2023 and January 2024 at UBA bank UNILAG branch, Lagos.

Mammeh informed the court that the defendant betrayed the trust reposed in him by his employer and connived with others to forge the withdrawal booklet belonging to a customer of the bank, Professor Abiodun Johnson to withdraw the sum of N356,73,000 from his account without his consent and escaped.

He said the offences, the defendant committed were contrary to and punishable under sections 325, 333, 287, 335, 322,363 and 365 of the Criminal Law of Lagos State, 2015.

Alfred, however, pleaded not guilty to the charges and his Counsel, Barr. Austine Okeh prayed the Court to grant him bail in the most liberal terms insisting that the defendant is a first-time offender and would not jump bail if granted.

Magistrate, A.O. Alogba granted him N1m bail with two sureties in like sum, adjourned the case and ordered that the defendant be detained at the Ikoyi correctional facility till he perfected the bail conditions.

Source:- https://www.thepressng.com/exposed-how-uba-bank-unilag-staff-alfred-emmanuel-stole-n356m-from-customers-account/