Efforts of a bank to recover a sum of $123,000 mistakenly transferred into the account of a Lagos-based man have proved abortive as he has frustrated all.
The intrigue seems to have been on since four years ago.
The man, Sikiru Olayinka, is however facing the law now as the police have apprehended him and charged him to court.
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According to the spokesperson for the Police Special Fraud Unit in Ikoyi, Lagos State, SP Eyitayo Johnson, the legal section of the unit charged Olayinka along with his company, Excampo Nigeria Limited, to the Federal High Court, Ikoyi-Lagos, for offences bordering on fraudulent conversion and stealing of the $123,000.00 being money wrongly transferred into his company’s domiciliary account on September 5, 2018.
He said, “On receipt of the funds into his account, Sikiru Olawale, within hours, quickly visited the bank and transferred $120,000.00 in two tranches into accounts of his cronies. The bank made concerted efforts to recover the funds in order to channel same to the rightful account but Sikiru Olayinka refused and frustrated these efforts and continued to dissipate the money contrary to the provisions of Banks and Other Financial Institutions Act, 1991, and the Failed Banks Act, 1994.”