A 65-year old man, Femi Bankole, has been arrested and charged in Lagos State for allegedly swindling Richway Microfinance Nigeria Limited to the tune of N35m under false pretence.
P.M.EXPRESS reports that the incident happened sometime in 2025 at Richway Microfinance Nigeria Limited, Ile-Epo, Alimosho area of Lagos, where the company is located.
The suspect was said to have obtained the money from the microfinance company under false pretence and promised to pay the money on an agreed date. However, on the agreed date, the suspect presented a dud cheque which was not honoured when presented for payment.
The matter was reported to the Police at Oke Odo Division. The suspect was arrested and detained at the station for interrogation over his alleged conduct.
After investigation, the Police found him culpable and charged him before the Ogba Magistrate Court for fraud, obtaining under false pretence and stealing, which attracts several years of imprisonment.
The charges read:
COUNT I: “That you, Femi Bankole ‘M’ sometime in the month of July 2025 at Richway Micro-finance Nigeria Limited, Ile-Epo, Alimosho, in the Lagos Magisterial District, did dishonestly steal the sum of Thirty Five Million Naira only (35,000,000:00), properties of Richway Microfinance and thereby committed an offence contrary to Section 280 (1) (a) and (b) and punishable under Section 287 (5) (a) the Criminal Law of Lagos State 2015.”
COUNT II:” That you, Femi Bankole ‘M’ on the same date, time and place in the foresaid Magisterial District, did present a dud cheque of Thirty Five Million Naira Only (N35,000,000:00) to Richway. Microfinance, a presentation you know to be false and thereby committed an offence contrary to Section315 (1) (a) and (b) of the Criminal Law of Lagos State 2015.”
COUNT III:”That you, Femi Bankole ‘M’ on the same date, time and place in the foresaid Magisterial District, did obtain the sum of Thirty Five Million Naira Only (N35,000,000:00) only, by false pretence and thereby committed an offence contrary to Section 314 (1) (a) and (2) and punishable under Section 314 (3) of the Criminal Law of Lagos State 2015.”
COUNT IV:”That you, Femi Bankole ‘M’ on the same date, time and place in the aforesaid Magisterial District, did obtain the sum of Thirty Five Million Naira Only (N35,000,000:00) by false pretence, presentation you know that is false and thereby committed an offence contrary to Section 321 (b) of the Criminal Law of Lagos State 2015.”
However, he pleaded not guilty.
The prosecutor, Supol Philip Ademigbuji, then asked the Court to give a date for hearing since he pleaded not guilty to enable the Police to prove that he actually committed the alleged offence.
The Presiding Magistrate, Mrs. O. Kusanu, granted him bail with two sureties, who must show evidence of means of livelihood and tax payment while addresses will be verified by the Court.
The matter was adjourned for mention while the defendant was remanded in custody at the correctional center at Kirikiri town, Lagos, pending when he will perfect his bail conditions.