Microfinance bank employee faces N14m fraud charge

An employee of a microfinance bank, Yetunde Ajogbeje, was on Thursday docked at an Ikeja Magistrates’ Court for allegedly stealing N14 million from the bank’s customers.

Ajogbeje, 40, whose residential address was not provided, is standing trial before Magistrate A.S Odusanya on a two-count charge of fraud and stealing.

The defendant, however, denied committing the offences and was admitted to a bail of N2 million with two sureties in like sum.

Odusanya said that the sureties should be gainfully employed and show evidence of two years tax payment to the Lagos State Government.

The prosecution counsel, Insp Emmanuel Ajayi, told the court that the defendant committed the offences between August, 2019 and September, 2021 at Ajao Estate, Isolo, Lagos State.

He said that the defendant, who was the Chief Operating Officer of Rephidim Microfinance Bank Ltd., allegedly stole N14 million belonging to the bank’s customers.

Ajayi said that the defendant falsified documents of some customers of the bank.

“The defendant deliberately omits to make full and true entry in the books and accounts of her company as regards the bank transaction and status of the account of some customers.”

“She stole the said money and converted it to her personal use.”

“When the crime was detected, she was handed over to the police,” the prosecutor said.

He said the offences violated sections 287 and 335 of the Criminal Law of Lagos State, 2015.

Our correspondent reports that Section 287 stipulates three years’ imprisonment for stealing, while Section 335 prescribes seven years for fraud.

The magistrate adjourned the case until Jan. 25 for mention.