Thursday, October 9, 2025
24.4 C
Lagos

N411m Fraud: Ecobank Turns in Ex-Manager for Prosecution

A Federal High Court in Ikoyi, Lagos, has ordered the remand of Ifeanyi Chukwu Azike, a former manager of Ecobank Nigeria, over allegations of defrauding the bank’s customers to the tune of N411million.

Azike, who was handed over to the police by the investigative unit of the bank was arraigned before Justice Ayotunde Faji on Tuesday, by the Special Fraud Unit (SFU) of the Nigeria Police Force on a three-count charge bordering on obtaining money under false pretences, false representation and fraud. The defendant, however, pleaded not guilty to the charge upon his arraignment.

Following his plea of not guilty, police prosecutor, ASP Daniel Apochi urged the court to remand him in prison pending trial. Consequently, Justice Faji ordered that the defendant be remanded in prison till 8th of March, 2019 when his bail application would be heard.

In a charge marked, FHC/L/56c/2019, the police alleged that between 2016 and 2017, Azike fraudulently obtained N150 million from a customer of Ecobank Nigeria under false pretence of buying him Federal Government Treasury Bill in his bank.

Azike was also alleged to have forged the bank customer’s signature, picture and letter of Instruction which he used in opening another parallel account as Ikenna Okafor Kelvin with account number: 5333063028.

The police also alleged that the bank manager without the consent of the bank fraudulently converted the sum of N411 million belonging to the bank to his personal use.

The offences were said to be contrary to Sections 1 (1) (a), 15(1)(2) and 15(2) of the Advance Fee Fraud and Other Fraud related Offence Act No. 14 of 2006, and punishable under Section 1 (3) of the same Act.

spot_img
spot_img
spot_img

Hot this week

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Rosatom: Nuclear Energy Holds key to Africa’s Sustainable Future

The role of nuclear energy in meeting Africa’s future...

RMRDC Targets 30% Value-Added Policy on Export of Local Raw Materials

The Raw Materials Research and Development Council (RMRDC) says...

NDIC, CIBN Strengthen Collaboration in Emerging Issues in the Financial Sector

L-R: President/Chairman of Council, Chartered Institute of Bankers of...

Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Tier One Lender, Fidelity Bank Plc, has commenced the...

Topics

Survey Xrays World of Young Entrepreneurs in Africa

The Entrepreneurship Survey is based on an emailed questionnaire...

ZETA-WEB Nigeria Becomes Microsoft Authorized Education Partner

Zeta-Web Nigeria yesterday announced it has become a Microsoft...

Linkage Assurance Offers Consumer Value Support for Broker Partners

  Underwriting firm, Linkage Assurance Plc has announced value support...

Cool Plus Offers Innovative Acoustics, Thermal Insulation Tech to Nigeria

  Cool Plus Limited, a leading professional HVAC company in...

Emirates Flies the World’s Tallest Height to put Dubai 2020 Expo on Top

Keeping with Dubai’s ‘nothing is impossible’ spirit, Emirates is soaring...

Can Nigeria Regain Business Environment Reform Steam?

This week, Afrinvest Research says it is turning its...

IDC: Cloud Tech is Top Investment Priority in Next 5 Years

The potential for cloud technologies to break down silos...

Danbatta: Telecom Policies Enhancing Digital Access, Media, Knowledge

The Executive Vice Chairman of the Nigerian Communications Commission...
spot_img

Related Articles

Popular Categories

spot_imgspot_img