Microfinance bank employee diverts N753,000 loan in Lagos

Unemployed man steals N350, 000 from cooperative society

An employee of a microfinance Bank in Lagos, Ifeanyi Odum, on Thursday appeared in a Magistrates’ Court in Ogudu, Lagos, for allegedly stealing N753,200 from his employer.

Odum, 33, who resides in Ikorodu area of Lagos, is charged with two counts of obtaining under false pretenses and theft.

He, however,pleaded not guilty to the charges.

The Prosecutor, ASP Rita Momoh, told the court that the defendant committed the offence on May 25 and June 3 at Kosofe area of Lagos.

Momoh alleged that the defendant collected the loans for two customers but failed to give them, the News Agency of Nigeria reports.

He said the bank discovered that there were some discrepancies when customers reported that their loans were being delayed.

Momoh said the offence contravened the provisions of sections 287 (7) and 314(1) of the Criminal Law of Lagos, 2015.

The News Agency of Nigerian (NAN) reports that Section 287 (7) stipulates seven years jail team for stealing from one’s employer.

Magistrate Ejiro Kubeinje admitted the defendant to bail in the sum of N100, 000 with two sureties in like sum.

Kebeinje adjourned the case until Aug. 8 for mention.

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