Couple arraigned for allegedly stealing N2.7m from bank

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned an ex-banker, Akinwole Oluwaseun Dosunmu, and his wife, Motunrayo Olanike Dosunmu, before Justice Ladiran Akintola of the Oyo State High Court, Ibadan, for an alleged financial fraud to the tune of N2.74 million. The couple was accused of stealing the sum from Sterling Bank Plc. Akinwole […]

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned an ex-banker, Akinwole Oluwaseun Dosunmu, and his wife, Motunrayo Olanike Dosunmu, before Justice Ladiran Akintola of the Oyo State High Court, Ibadan, for an alleged financial fraud to the tune of N2.74 million.

The couple was accused of stealing the sum from Sterling Bank Plc.

Akinwole was an employee of the bank, while his wife was a customer and a beneficiary in the bank’s Third Party Acquirer Scheme.

The bank had initiated the scheme as a marketing strategy through which relatives and friends of their marketing agents were awarded commission for bringing new customers to open and operate new accounts with the bank. Akinwole, also a marketer with the bank, was appointed to coordinate the scheme.

Apart from the commission on account opening, the referral also enjoys certain percentage on the saving made through the accounts every month.

It was, however, alleged that while reviewing activities under the scheme in 2016, the bank discovered that most of the accounts appropriated to Motunrayo as a third-party acquirer were fraudulently tagged to her by her husband.

The investigation further revealed that the accounts were not sourced by either of the couple, but by other third-party agents.

According to the petition filed by the bank, the couple had benefited a total of N2,740,300.92 as commission fraudulently paid to Motunrayo through the scheme.

It was on account of the allegation and further investigations by the EFCC that the couple was arraigned on a 16-count charge of stealing yesterday.

The defendants pleaded not guilty to the charges.

In view of their plea, counsel to the EFCC, Ifeanyi Agwu, applied for a date for trial and for the defendants to be remanded in the custody of the Nigerian Correctional Service.

However, the defence counsel, J. B. Olaoye, informed the court that he had filed applications for bail on behalf of the accused persons.

Justice Akintola adjourned the matter till Friday February 21, 2020 for hearing of the bail applications and ordered that the defendants be remanded in the custody of the Nigerian Correctional Service, Agodi, Ibadan.