Police arraign Microfinance staff for stealing customers’ N7m

By Tayo AFOLABI

Police have arraigned a staff of Lagos based Fortress Microfinance, Emmanuel Ajofoyinbo, for allegedly stealing N7.110 million belonging to the bank’s customers.

Ajofoyinbo, was arraigned before before an Ikeja Magistrates’ Court on a two-count charge of obtaining money by false pretence and stealing.

The Prosecutor, ASP Josephine Ikhare, told the court that the banker received the money from customers of the bank under the pretext of remitting it into their bank accounts.

He however, converted the money to his own use without the consent of the bank.

Ajofoyinbo allegedly committed the offence between August 2022 and May 2023, at No 223, Ikorodu Road, Ilupeju, Lagos.

The offences according to the prosecutor, contravened sections 314 and 287 of the Criminal Law of Lagos State, 2015.

The section 314 stipulates 15 years’ jail term for obtaining under false pretence, while section 287 provides three years’ imprisonment for stealing.

The defendant, however, pleaded not guilty to the charges.

The Magistrate, L. A Owolabi, granted Ajofoyinbo bail in the sum of N500,000, with two sureties in like sum.

Owolabi then adjourned the case until June 26, for further mention.