Company Boss In Soup For Stealing Zenith Bank’s $123,000

PAUL IYOGHOJIE

Sikiru Olawale Olayinka, the Managing Director, Excampo Nigeria Limited, has been arrested and arraigned before a Lagos Magistrate’s Court for allegedly stealing the sum of $123,000 belonging to Zenith Bank Plc.

Also charged with Olayinka over the alleged  offence was his Company, Excampo Nigeria Limited.

The accused was arrested by the operatives of the Police Special Fraud Unit, PSFU, Ikoyi, Lagos and charged before the Igbosere Magistrate’s Court on a two count of felony to Wit. Stealing.

Policed Counsel, ASP Nwosu George told the Court in charge No B/20/2019 that the accused committed the offence in September 2018  at the Pen Cinema, Agege, Lagos branch of the bank.

Trouble started for the accused when the management of Zenith Bank mistakenly transferred the sum of $123,000 into Olayinka’s Account No 5070637885 operated with the Agege branch of the bank.

It was gathered that instead of the accused to notify the management of the bank of the development, he went ahead to withdraw all the money from his company’s account and converted it to his use.

Nemesis, however, caught up with the 36-year old accused when the management of the bank traced the missing money to his Company’s account and reported the matter to the Police leading to his arrest.
George, the Police Counsel, said the offences Olayinka committed were punishable under sections 409 and 285 of the Criminal Law of Lagos State of Nigeria, 2011 as revised in 2015.
The accused, however, pleaded not guilty to the alleged offence in the open Court and his Counsel, Barr. Opeyemi Bello prayed the Court to admit the defendant to bail in the most liberal terms saying that the defendant is the breadwinner of his family.

After listening, the presiding Chief Magistrate, Folashade Botoku turned down the oral bail application and ordered that the defendant be kept in Prisons custody from where he would be coming to Court to attend his trial.

The presiding Magistrate added that the accused had earlier jumped the administrative bail granted him before he was rearrested.

She then adjourned the case till March 27, 2019 for trial.