News

August 18, 2011

Court dismisses suit seeking to stop probe of bank’s fraud

By  Abdulwahab  Abdulah
LAGOS — Justice Mojisola Dada of a Lagos High Court has refused the application to stop police’s investigation into multi-million naira fraud allegedly committed by some officials of Diamond Bank Plc, recently uncovered by the bank’s auditor.

Dada in her ruling dismissed the application by one of the bank’s contractors, Du-Jour Event Management Limited and its Managing Director, Mr Olu Olowookere.

Fingered in the fraud uncovered few days to the bank’s planned 20th anniversary gala night, were mostly officials of the bank’s Corporate Affairs and Account Departments, most of who had since been fired.

In their fundamental rights enforcement application, Du-Jour and Olowookere alleged that the bank had procured the Police to harass and embarrass them over an alleged contractual dispute between them.

Respondents in the suit are the bank and the Inspector General of Police.

The applicants had urged the court to restrain the respondents from further threatening to arrest or inviting them for investigation over the issue, contending that the dispute being investigated by the police was purely civil and not criminal to warrant Police’s investigation.