A 32 year old cash processor with First Bank of Nigeria limited, Timothy Adewale was arraigned on Monday before an Igbosere Magistrate’s Court for allegedly defrauding the bank of about N4,0 10, 400 million.
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The defendant, who is facing one-count charge of stealing filed against him, was arraigned before Magistrate Mrs. A. T Omoyele.
Addressing the court, the prosecutor, Sergeant Nicholas Akpene said the defendant committed the offence between 18 and 26 of April 2016.
He said that he committed the offence during working hours of the bank at First Bank Ikeja Industrial Estate branch.
Akpene said he stole the money mentioned above which is the property of the bank in 2011.
According to the prosecutor the offence committed is punishable under section 285 (7) of the criminal law of Lagos state 2011.
However, the defendant who resides at 10 Ejalonibu Street, Oko- Oba in Agege area of Lagos State pleaded not guilty to the charge against him.
Magistrate Omoyele granted him bail in the sum of N1million, with two sureties in like sum, adding that the sureties must show evidence of three years tax clearance to the court and their addresses verified.
Consequently the case was adjourned till September 7, for mention.