Justice Olubunmi Abike-Fadipe of an Ikeja Special Offences Court, Lagos, has remanded a manager of Iju Branch of Polaris Bank Limited, Abiodun Sanni in the Kirikiri Correctional Centre over alleged N122 million fraud.

The judge remanded Sanni after he was arraigned by the Economic and Financial Crimes Commission (EFCC) over the alleged fraud.

The EFCC alleged that Sanni had on February 24, 2020, in Lagos, being the Bank Manager of the lju branch of Polaris Bank Limited, obtained credit in the form of a bank loan in the sum of N17 million, for Bamgbose Tayo Taofiq, trading under the name and style of Banut Haulage.

He was also alleged to have obtained the loan under false pretence that the loan had collateral in the form of a fixed deposit account number 0071572791 worth N111, 540. 380. 52 million.

He was arraigned on a 16-count charge bordering on obtaining credit by false pretences, forgery, use of false documents and stealing.

The bank manager was also accused of dishonestly converting a Polaris Bank Limited’s fixed deposit account number 0071277522 worth N15, 011, 441. 00 million, belonging to Atolagbe Joshua Tinuoye.

The defendant pleaded not guilty to all the counts. After his plea, the prosecuting counsel, M. S. Adewunmi, urged the court to remand the defendant in a correctional facility pending his trial date.

The counsel noted that the prosecution intended to call 10 witnesses in the course of the trial.

The lawyer to the defendant, Mr. Osho Oludosu, however informed the court that he wanted to file a bail application.

Justice Abike-Fadipe adjourned to March 6 and 19, 2025, for trial, and ordered that the defendant be remanded at the Kirikiri Correctional Centre.

NEWSDISH reports that the judge also directed counsel to file bail application before the trial date.

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