Polaris Bank manager arraigned for N122m fraud, remanded in Kirikiri

 

An Ikeja Special Offences Court, Lagos, has ordered a remand of Iju Branch Manager of Polaris Bank Limited, Abiodun Sanni in the Kirikiri Correctional Centre over alleged N122 million fraud and fixes March 6, 2025 for commencement of his trial.

The order to remand Abiodun Sanni was made by Justice Olubunmi Abike-Fadipe after he was arraigned on a 16- count charge bordering on obtaining credit by false pretences, forgery and use of false documents and stealing.

He was charged by the Economic and Financial Crimes Commission (EFCC) over the alleged fraud.

In the charge preferred against him by the EFCC, it was 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.

The Polaris 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.

Defendant Sanni pleaded not guilty to all the counts. After his plea, the prosecutor M. S. Adewunmi, prayed 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.

But counsel to the defendant, Mr. Osho Oludosu, 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. The judge also directed counsel to file bail application before the trial date.