Female Banker Sent To Prison For Allegedly Stealing N116m From Customer’s Account

A female Banker with SeedVest Limited Lagos Island, Lagos branch, Mrs. Olubunmi Ruth Sadiku, 39, has been arrested by the operatives of the Lion Building Division of the Nigerian Police, Lagos Island and charged before a Lagos Magistrate’s Court for allegedly stealing a total sum of N116 million from Customer’s account without the consent of her employer and customers  and allegedly converted the money to her use.

Police said that the defendant allegedly forged the letter heading of Towade  Global Business Ventures bearing Mrs. Funke Adelakun’s signature and fraudulently use it to withdraw the sum of N15,000,000 from her account without authority.

Police further alleged that the defendant fraudulently received the sum of N101 million from various customers of SeedVest Limited –a Nigerian financial services provider– for saving in their accounts but instead of depositing the money in their accounts, the defendant allegedly converted the money into her use.

Police said that the secret became open when the management of the Financial House received complaints from the customers and reported the matter to the Police who arrested the defendant.

After investigation by Inspector Pius Ndegbe and his team, the defendant was charged before the Igbosere Magistrate’s Court sitting at the Tinubu Magistrate’s Court, Lagos on a four-count charge bordering on obtaining money by false pretense, forgery and stealing.

Police Prosecuting Counsel, Inspector Ejime Okete told the Court in the charge marked B/74/2024 that the defendant committed the offence in June and August 2024 during working hours at SeedVest Limited located at Balogun Street, Lagos Island.

Salami informed the Court that the defendant betrayed the trust reposed in her by her employer as a Cashier in charge of receiving cash from customers for saving in their accounts and that instead of remitting the customers cash into their accounts, she allegedly converted the money into her use leading to her arrest.

He said the offences the defendant committed were punishable under Sections 411, 365,314 and 287 of the Criminal Law of Lagos State 2015.

The defendant, however pleaded not guilty to the charges and Chief Magistrate B.A Sonuga granted her N2 million bail with two sureties in like sum.

Sonuga adjourned the case till 22 January, 2024 for mention and ordered that the defendant be detained at the Ikoyi Correctional Facility till she perfected the bail conditions.