MICHAEL AKINOLA
Police detectives from the Force Criminal Investigation Department Annex, Alagbon-Ikoyi, Lagos, have uncovered how four staff members of Richway Microfinance Bank Limited allegedly created fake customers email addresses and siphoned their money to the tune of N182.3m.
P.M.EXPRESS reports that the incident happened between January and December 2025 at the bank’s office located at Plot 27, Admiralty Way, Lekki Phase 1, Lagos.
The bank staff, Ikeoluwa Imuraina, Peter Olabanji, Ngozi Nwokoma and Olubunmi Ayeni, were consequently arraigned before the Federal High Court in Lagos over the alleged N182.3m fraud.
They were charged for conspiracy, obtaining by false pretence, unlawful transfer of funds and cybercrime-related impersonation before Justice Alexander Owoeye.
The prosecutor, Morufu Animashaun, told the court that the defendants allegedly committed the offences by conspiring with others now at large to defraud account holders of Sanusi Hostel 1 and Sanusi Hostel 2, by allegedly transferring a total sum of N182,302,151.75 from the customers’ accounts into various accounts belonging to different individuals.
Barrister Animashaun further alleged that the defendants compromised the bank’s internal system and created a fake email address,
sunnatbello@hotmail.com, closely resembling the legitimate address
sunatbello@hotmail.com, to facilitate the fraudulent scheme. He alleged that the funds were fraudulently moved without authorisation.
The prosecutor stated that the alleged offences contravened Sections 8(a) and 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006; Section 390(7) of the Criminal Code Act; and Sections 13(b)(ii) and (iii) of the Cybercrimes (Prohibition and Prevention) Act, 2015.
However, the defendants pleaded not guilty.
Following their pleas, the prosecution requested a trial date and urged the court to remand the defendants in custody pending trial.
The defence counsel orally applied for bail, citing relevant legal authorities, but the prosecution opposed the application, arguing that no formal bail motions had been filed.
The presiding judge, Justice Owoeye, granted each of the defendants bail in the sum of N10m, with two sureties in like sum. He ordered that the sureties must reside within the court’s jurisdiction and provide evidence of three years’ tax payment.
The judge also directed the defendants to deposit their National Identification Numbers, Bank Verification Numbers and two passport photographs with the court, and barred them from travelling outside Lagos State without prior court approval.
The matter was adjourned till 24th June,Y2026, for trial while the defendants were ordered to be remanded at the Force CID, Alagbon-Ikoyi, pending when they will perfect their bail conditions.