The Police have arraigned four former employees of Think Finance Microfinance Bank for allegedly fraudulently syphoning the institution’s N150m.
Amongst the accused brought before Magistrate Patrick Nwaka on a three-count charge of theft were Isaac Eddy the former loans officer, Joseph Setonji Juwon Irinyemi and Ojimi Ayodeji, the former Head of Risk Management were arraigned before Magistrate Patrick Nwaka on three counts of theft.
The prosecutor, Thomas Nurudeen narrated to the court that the defendants who were once employees of the Festac Town-based finance house were in charge of granting loans to customers. However, they put a plan together by using fake names to grant themselves loans without interest of up to N150m. This offence Nurudeen said happened between 2019 and December 2022 at the Microfinance bank.
Nurudeen stated that the offences contravened and are punishable under Sections 314, 325 (1) and 287 (a) (b) (e) of the Criminal Law of Lagos State, 2015
The charges against the four went thus: “That you, Ojimi Ayodeji, head of risk management, Isaac Eddy, loan officer, Joseph Setonji, Juwon Irinyemi and others now at large, between the year 2019 and December 2022, at the Think Finance Microfinance Bank, FESTAC Town, Lagos, in the Lagos Magisterial District, did conspire among yourselves to commit felony to wit fraud and thereby committed an offence punishable under Section 325 (1) of the Criminal Law of Lagos State, 2015.
“That you, Ojimi Ayodeji, head of risk management, Isaac Eddy, loan officer, Joseph Setonji, Juwon Irinyemi, and others now at large, between 2019 and December 2022, at the Think Finance Microfinance Bank, FESTAC Town, Lagos, in the Lagos Magisterial District, fraudulently allocated loans of N150m to the individual representing them with BVN and account name and passport photographs which were not real, the representation which you knew to be false and thereby committed an offence punishable under Section 314 of the Criminal Law of Lagos State, 2015.”
The four men nonetheless, pleaded not guilty to all charges; just as their defence Lawyer, asked for their bail.
Without opposition from the prosecution, Magistrate Nwaka accepted the plea and granted them bail in the sum of N2m each, with four dependable sureties in like sum.
However, each guarantor would have to make available their tax clearance certificate of the last three years which would then be verified by the court. The case was adjourned to August 16, 2023.