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Lagos bizman accused of stealing bank’s $123,000

By Onozure Dania

Thirty-six years old Managing Director of Excampo Nigeria Ltd., Sikiru Olayinka, was yesterday arraigned before a Lagos Magistrate’s Court sitting at Igbosere for allegedly stealing $123,000, belonging to a leading new generation bank.

Olayinka, who was charged alongside his Company, Excampo Nigeria Ltd, is facing a two-count charge of stealing preferred against him by the Police.

Police prosecutor, ASP George Nwosu told the court that the defendant committed the offence  in September, 2018,  at the Pen Cinema branch, Agege, Lagos, of the bank.

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Mwosu said the bank had mistakenly transferred the said sum into account No 5070637885 operated by the defendant at the Agege branch of the bank.

He also stated that after the defendant noticed the transfer that was made to his account, he did not notify the bank’s management but withdrew the money from his company’s account and converted it to his use.

The prosecutor said: “The defendant  was later arrested after management of the bank traced the missing money to his Company’s account and reported the matter to the Police which led to his arrest.”

The defendant pleaded not guilty to the alleged offence.

After listening to the submission of Opeyemi Bello, the defendant’s counsel, Magistrate Folashade Botoku turned down the oral bail application and ordered the defendant remanded in prison custody, with the case adjourned till March 27 for trial.

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