How 4 Top Bank Staff Swindled Microfinance Bank N150m With Ghost Debtors 

P.M.EXPRESS reports that the senior bank staff involved in the alleged financial fraud included the company’s Head of Risk Management, Ojimi Ayodeji, the Loan Officer, Isaac Eddy, Joseph Setonji, and Juwon Irinyemi.

They were arrested and detained by the Police intelligence operatives undergoing interrogation after the bank carried out an audit on the financial status of the bank and the auditors discovered the ghost creditors.

After rounds of interrogation, the Police found the four suspects culpable and subsequently charged them before Yaba Magistrate Court presided by Mr. P. E. Nwaka for conspiracy and fraud.

The prosecutor, Supol Thomas Nurudeen, told the Court that the defendants, who were employed by the firm, were tasked with making loans to people for business purposes, but they conspired and borrowed money from the firm to the tune of N150m, which they shared among themselves without interest and never paid back.

The defendants presented individuals and represented them with bank verification numbers, account names and passport photographs, which were not real jn order to borrow the money.

Supol Nurudeen stated that the defendants committed the offences between 2019 and December 2022 and the offences contravened and are punishable under Sections 314, 325 (1) and 287 (a) (b) (e) of the Criminal Law of Lagos State, 2015.

The charges read in part, “That you, Ojimi Ayodeji, Head of Risk Management, Isaac Eddy, Loan Officer, Joseph Setonji, Juwon Irinyemi and others now at large, between the year 2019 and December 2022, at the Think Finance Microfinance Bank, FESTAC Town, Lagos, in the Lagos Magisterial District, did conspire among yourselves to commit felony to wit fraud and thereby committed an offence punishable under Section 325 (1) of the Criminal Law of Lagos State, 2015″.

“That you, Ojimi Ayodeji, head of risk management, Isaac Eddy, loan officer, Joseph Setonji, Juwon Irinyemi, and others now at large, between 2019 and December 2022, at the Think Finance Microfinance Bank, FESTAC Town, Lagos, in the Lagos Magisterial District, fraudulently allocated loans of N150m to the individual representing them with BVN and account name and passport photographs which were not real, the representation which you knew to be false and thereby committed an offence punishable under Section 314 of the Criminal Law of Lagos State, 2015.”

However, they pleaded not guilty when they were arraigned.

The prosecutor did not object to their being granted bail but asked the Court to give a date for hearing since they pleaded not guilty to enable the Police to prove that they actually committed the alleged offence.

The Presiding Magistrate, Mr. Nwaka, granted them bail in the sum of N2m each with four responsible sureties in like sum and each surety must present a tax clearance receipt of three years that would be verified by the Court.

The matter was adjourned till 16th August, 2023, for mention while the defendants were remanded in custody at the Correctional Centre pending when they will perfect their bail conditions.