Operatives of the Force Intelligence Department at the Force Headquarters Annex, Moloney, Obalende, Lagos have arrested a 29-year-old staffer of Stanbic IBTC Bank Headquarters located at Victoria Island, Lagos, Chukwudi Emmanuel Okonkwo for allegedly stealing the sum of N212.7m.
Okonkwo was dragged before a Lagos Magistrates’ Court for allegedly fraudulently withdrawing the sum of N212,772,708 from the account of his employer and converting the money to his personal use.
Police alleged that the complainant uncovered the alleged fraud when it audited its account and petitioned the Inspector General of Police, IGP Kayode Egbetokun who referred the matter to his crack team at the Force Headquarters Annex, Lagos for a thorough investigation.
After the investigation by Inspector Victor Efiong and 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 fraudulent withdrawal and stealing.
Police prosecuting Counsel, ASP Francis Igbinosa informed the Court in the charge Marked A/34/2024 that the defendant committed the offence between 2023 and August 2024 at Stanbic IBTC Bank Headquarters, Victoria Island, Lagos.
Igbinosa told the Court that the defendant fraudulently withdrew the N212,772,708 from his employer’s account and transferred it into the accounts of his friends from where he withdrew the money and converted it to his use.
Igbinosa further told the Court that nemesis, however, caught up with Okonkwo when the complainant audited its account and discovered the alleged fraud leading to his arrest.
He said the offences, the defendant committed were punishable under sections 411, 280, 287, 335 and 333 of the Criminal Law of Lagos State, 2015.
The defendant pleaded not guilty to the charges and Chief Magistrate, Mr Ogunkanmi granted him N10m bail with two sureties in the sum.
Ogunkanmi adjourned the case till 29 August 2024 for mention and ordered that the defendant be detained at the Ikoyi correctional facility till he perfected the bail conditions.
