The Police at Lion Building have arrested Mrs. Sadiku Ruth Olubunmi, a 39-year-old banker with Seedwest Limited on Balogun Street, Lagos Island, over allegations of stealing N116 million from customers’ accounts.
Olubunmi is accused of forging documents, including a letterhead of Towade Global Business Ventures, purportedly bearing the signature of Mrs Adelakun Funke, to fraudulently withdraw N15 million.
Police also alleged that she diverted N101 million received from various customers for deposits into her personal use.
The alleged fraud came to light after customers lodged complaints with the management of Seedwest Limited, prompting an internal review and a report to the police.
Following an investigation by Inspector Pius Ndegbe and his team, Olubunmi was arraigned before the Igbosere Magistrate Court sitting at the Tinubu Magistrate Court, Lagos Island.
She faces a four-count charge of obtaining money under false pretence, forgery, and stealing.
According to the prosecution led by Inspector Ejime Okete, the offences were committed between June and August 2024 during her tenure as a cashier responsible for receiving and depositing customers’ funds.
The charges contravene Sections 411, 365, 314, and 287 of the Lagos State Criminal Law, 2015.
Olubunmi pleaded not guilty to the charges.
Chief Magistrate B.A. Sonuga granted her bail in the sum of N2 million, with two sureties in like sum, and adjourned the case to January 22, 2025 for mention.
Until her bail conditions are met, she is to be held at the Ikoyi Correctional Facility.