Follow Us On:

Posted in: News

Abiola’s wife, others charged over N617m bank fraud

By Tunde Opeseitan - Lagos 

EFCC arraigns ex-naval officer, others for N556m Scam

EFCC arraigns ex-naval officer, others for N556m Scam

Doyin, wife of late winner of June 12, 1993 Presidential election, Moshood Abiola, was on Friday charged before a Federal High Court in Lagos over alleged involvement in fraudulent bank loan to the tune of N617 million.

She was charged alongside Managing Director of the defunct Integrated Microfinance Bank, Akinteye Simon Ademola and two other directors of the bank – Jerry Orimovuohoma and Oladapo Bello.

The accused persons were said to have committed the fraud while acting as directors of the bank between 2006 and 2008.

Specifically,the accused were said to have granted unauthorized  loans to themselves and other related companies in  large sum without collateral contrary to Section 516 of the criminal code and Section 23(4) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act.

When the matter came up on Friday,only the Managing Director of the bank was present in court.

This prompted the Acting Director of Public Prosecution from the Federal Ministry of Justice, Akin Akintemi to request for time for all the accused to be arraigned in court together.

Trial judge, Justice Okon Abang, consequently fixed December 10, 2013 for arraignment of the accused persons.

According to count one of the charge sheet with reference number FHC/L/210c/13, Akinteye Simon Ademola, Jerry Orimovuohoma, Dr Doyin Abiola and Oladapo Bello, were alleged to have conspired among themselves while being the Managing Director and Directors of Integrated  MicroFinance Bank of 6A, Adeniyi Jones, Ikeja Lagos to commit felony to wit: granting of unauthorized credit facilities to the tune of N327,566,000 naira to themselves and other related companies without collateral.

The second count alleged that the Managing Director of the bank caused the sum of N131.176 million to be withdrawn by Adewale Ayoade, the head of treasury,which the boss converted to his personal use, contrary to Section 19(1)(d) of the Failed Banks(Recovery of Debts) and Financial Malpractices in Banks Act as amended and punishable under Section 20(1)(a) of the same Act.

In count three, Dr. Doyinsola Abiola,while being the Director of the bank between 2006 and 2008, was said to have recklessly granted unauthorized credit facility to the tune of N26,611,246.98 to herself without collateral contrary to the accepted norm of the bank.

In count four of the charge, Jerry Orimovuohoma was said to have recklessly granted unauthorized credit facility to the tune ofN29,200,000 to himself without collateral and contrary to Section 19(a)(i) of Failed Banks(Recovery of Debts) and Financial Malpractices in Banks Act as amended and punishable under Section 20(1)(a) of the same Act.

In count five, Oladapo Bello, who is another Director of the bank, was accused of recklessly granting unauthorized credit facility to the tune of N3,200,000 to himself without collateral and recourse to the bank’s norm.

Post Your Comment