A Lagos State Special Offences Court sitting in Ikeja has ordered the remand of Mr. Abiodun Sanni, a former manager at a second-generation bank, over allegations of fraud amounting to N15,011,441.
Justice Abike-Fadipe gave the ruling on Monday, directing that Sanni be detained in a custodial centre pending the perfection of his bail application.
The defendant was arraigned by the Economic and Financial Crimes Commission (EFCC) on a 16-count charge bordering on obtaining credit by false pretences, forgery, use of false documents, and stealing.
According to the EFCC, Sanni, while serving as a bank manager, fraudulently facilitated a loan of N17 million for one Bamgbose Tayo Taofia, trading under the name Banut Haulage, on February 24, 2020.
The defendant allegedly claimed the loan was secured by a fixed deposit account worth N2,540,380.52, owned by Yinkus Multibiz Ventures, with the purported consent of the owner, Mrs. Aderibigbe Olayinka Hannah.
Further allegations reveal that Sanni dishonestly converted another fixed deposit account valued at N15,011,441.00, belonging to one Atolagbe Joshua Tinuoye.
During the arraignment, Sanni pleaded not guilty to all charges. Prosecutor A. Adewunmi requested the court to remand the defendant pending trial and disclosed plans to call 10 witnesses to establish the case against him.
“My Lord, we urge the court to keep the defendant in custody as we prepare for trial,” Adewunmi stated.
In response, defence counsel Osho Oludoshu sought bail for his client, filing an application before the court. Justice Abike-Fadipe ruled that the application should be submitted before the trial begins and set the hearing dates for March 6 and March 19, 2025.
“I hereby remand the defendant at the correctional centre. He is, however, entitled to submit a bail application before his trial date,” the judge ruled.
The court’s decision underscores its commitment to ensuring accountability in financial dealings while upholding the rights of defendants to a fair trial.
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