A 39-year-old banker with Seedwest Limited, Mrs. Sadiku Ruth Olubunmi, has been arrested and charged with stealing ₦116 million from customers’ accounts. The alleged fraud involved forged documents and the diversion of funds for personal use, according to the Lagos State Police Command.
Allegations and Investigation
The police allege that Olubunmi forged documents, including a letterhead from Towade Global Business Ventures bearing the signature of Mrs. Adelakun Funke, to fraudulently withdraw ₦15 million. Additionally, she is accused of diverting ₦101 million meant for customer deposits during her tenure as a cashier at Seedwest Limited.
The fraud was uncovered after customer complaints prompted Seedwest Limited’s management to initiate an internal investigation and report the matter to the police.
Inspector Pius Ndegbe and his team conducted the investigation, which led to Olubunmi’s arrest and arraignment at the Igbosere Magistrate’s Court, Tinubu, Lagos Island.
Charges and Legal Proceedings
Olubunmi faces a four-count charge of obtaining money under false pretenses, forgery, and theft, offenses that contravene Sections 411, 365, 314, and 287 of the Lagos State Criminal Law, 2015.
During her arraignment, the prosecution, led by Inspector Ejime Okete, detailed the alleged offenses, which were committed between June and August 2024.
Olubunmi pleaded not guilty to the charges.
Bail and Custody
Chief Magistrate B.A. Sonuga granted her bail in the sum of ₦2 million, with two sureties in like sum. The sureties must meet specific requirements, including verified addresses and tax clearance.
The case has been adjourned to January 22, 2024, for mention. Until Olubunmi meets her bail conditions, she will remain in custody at the Ikoyi Correctional Facility.
