Saturday, Oct 23rd 2021 11:46 AM

Market Digest Nigeria


Sterling Bank staff steals N4.4m, gets N500,000 bail

A 34-year old banker with Sterling Bank, Emmanuel Odoemena, who is under trial for an alleged theft of N4.46 million has been granted N500, 000 bail on Wednesday by an Ogudu Magistrates’ Court.


Odoemena, whose address was not given in court, is facing charges of stealing and breach of peace to which he pleaded not guilty. According to the Prosecutor, Insp. Lucky Ihiehie, the defendant committed the offences between January 2018 and February 2019 at Sterling Bank Plc, Ketu Branch, Lagos. Ihiehie alleged that the defendant, an account officer in the bank, stole N4, 467, 152.27 from the bank customers.


“The defendant stole the amount using fraudulent alters and falsified statements of account of the total cash collected from the banks’ customers. “The defendant used his position as a transaction officer in the bank and unlawfully converted the money to his own property, hence, the report. “He was subsequently apprehended by the police for further investigation,’’ he said.

The prosecutor said that the offences contravened Sections 287 (7) and 337 of the Criminal Law of Lagos State, 2015. Magistrate Mrs E. Kubeinje granted the defendant N500, 000 bail with two sureties in like sum, who must not be self-employed. She adjourned the case until June 19 for mention.

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