Justice Olubunmi Abike-Fadipe of an Ikeja Special Offences Court, Lagos, has remanded Abiodun Sanni, the manager of Polaris Bank Limited’s Iju Branch, in the Kirikiri Correctional Facility over an alleged N122 million fraud.
The Economic and Financial Crimes Commission (EFCC) arraigned Sanni on charges of obtaining credit under false pretenses, forgery, use of false documents, and stealing.
According to the EFCC, Sanni, on February 24, 2020, in Lagos, as the bank manager of Polaris Bank’s Iju Branch, facilitated a loan of N17 million for Bamgbose Tayo Taofiq, trading under the name and style of Banut Haulage, claiming the loan was backed by collateral in the form of a fixed deposit account worth N111.5 million.
The bank manager was further accused of dishonestly converting Polaris Bank’s fixed deposit account number 0071277522, valued at N15 million, belonging to Atolagbe Joshua Tinuoye.
Sanni, who pleaded not guilty to all 16 counts, was arraigned on charges including obtaining credit by false pretenses, forgery, and theft.
Following his plea, the prosecuting counsel, M.S. Adewunmi, requested the court to remand the defendant in custody pending trial, revealing plans to call 10 witnesses to testify.
However, the defendant’s lawyer, Osho Oludosu, informed the court of his intention to file a bail application.
Justice Abike-Fadipe subsequently adjourned the case to March 6 and 19, 2025, for the hearing and directed that the defendant remain in the correctional center.
The court also instructed counsel to submit a bail application before the trial date.
