Home Metro How Man Defrauded Stanbic IBTC Bank Of N60 Million

How Man Defrauded Stanbic IBTC Bank Of N60 Million

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A man is arrested by the police for looting on the fourth day of a nationwide strike against the removal of the petrol subsidy in Lagos January 12, 2012. Tens of thousands of Nigerians have been protesting up and down Africa's most populous nation for four straight days in protest against the axing of the petrol subsidy, which more than doubled the price to around 150 naira ($0.93) per litre. REUTERS/Akintunde Akinleye (NIGERIA - Tags: CIVIL UNREST POLITICS ENERGY)

An Ebute-Meta Chief Magistrates’ Court in Lagos, on Wednesday arraigned one Tajudeen Oladega for allegedly obtaining the sum of N60 million from Stanbic IBTC under the pretext of constructing a filling station, TOPNAIJA.NG reports.

Sgt. Kehinde Omisakin, the Prosecutor, told the court that the accused committed the offences sometime in 2016 at Stanbic IBTC Bank, Idejo St., Lagos.

According to the prosecutor, the accused approached the bank for a loan of N60 million for the construction of a petrol station.

“When it was, however, time to pay back, the accused presented various cheques, which were all dishonoured for lack of sufficient funds,” he said.

The offences, he said, violated Sections 312, 319 and 419 of the Criminal Law of Lagos State 2015.

However, the Chief Magistrate, Mrs O.A. Komolafe, granted the accused to a bail of N10 million with two responsible sureties each in like sum.

The accused, however, pleaded not guilty.

The case was, thereafter, adjourned till Oct. 25, for mention.

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