A 40-year-old marketing executive with the Wema Bank, was on Thursday arraigned at the Chief Magistrates’ Court, in Abeokuta, Ogun State for allegedly stealing N70 million from his employer.
Akinyele Ogunpola, the defendant, now a former employee of the bank, is charged with conspiracy and theft.
Olaide Rawlings, a police Inspector and the prosecution counsel told the court that the defendant committed the offence in October 2021 at Wema Bank, Oke-Ilewo, in Abeokuta.
She alleged that the defendant, with one other at large conspired and stole N70 million belonging to Wema Bank
She explained that the defendant was an employee of the bank working in the marketing department, where the loan is being disbursed to customers who apply for loans.
She said when customers apply for loans, the defendant would include additional money in the loan.
The offence, she said, contravenes sections 516,383(1) and 390(9) of the Criminal Code Vol.1 Law of Ogun 2006.
The defendant, however, pleaded not guilty to the charge filed against him.
The Magistrate, Mrs I.O Abudu, admitted the defendant to bail in the sum of N5 million with one surety each in like sum.
Abudu added that the surety must be a relative or a civil servant and show evidence of tax payment to the Ogun government.
She, after that, adjourned the case until December 5 for a hearing.