[dropcap]M[/dropcap]ichael Igbomins, David Onyeike, and Moses Iruolaja of Access Bank have been arraigned before Justice Olubunmi Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, in a case of gross financial misconduct.
The trio faces charges of allegedly stealing N3.5 billion from Access Bank and retaining the proceeds of the crime.
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The Economic and Financial Crimes Commission (EFCC) brought the charges against the defendants, accusing them of committing the offences sometime in 2023 in Lagos. The EFCC counsel, Mr. Abdulhamid Tukur, informed the court that the accused, with dishonest intent, stole and converted to their use the sum of N3,473,166,731 billion, property of Access Bank.
According to Mr. Tukur, the defendants retained the stolen amount, fully aware that it was the proceeds of an unlawful act.
The intricate fraud scheme involved one of the bank’s staff members, who had worked for the institution for 16 years as an IT representative. This staff member reportedly plugged an HP Elitebook laptop into the branch network, granting remote access to his accomplices, thereby facilitating the fraud.
The EFCC further explained that the staff member employed the other defendants to help move the stolen money through various channels.
The offences are said to contravene Section 17 of the EFCC Establishment Act, 2004, and Section 280 of the Criminal Laws of Lagos State, 2015.
During the court session, all three defendants pleaded not guilty to the charges read against them.
Following their plea, Mr. Tukur requested a trial date and urged the court to remand the defendants in a correctional facility.
However, the defendants’ counsel, Mr. M. S. Amosun and Mr. I. O. Lala, informed the court that although there was no pending application before the court, they intended to take the necessary actions before the next adjourned date.
Justice Olubunmi Abike-Fadipe has yet to set a trial date, and the case remains closely watched as it unfolds.
This high-profile case highlights the ongoing challenges of combating financial crimes within the banking sector and the vigilance required to protect financial institutions from internal and external threats.
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