Manager in court over N5.8m company’s money

A branch manager of an Ilorin-based credit company, Self-Reliance Economic Advancement Programme (SEAP), has been remanded by an Ilorin Magistrate Court for allegedly diverting the sum of N5,802,950 belonging to the company for personal use. According to the First Information Report, Oladepo who was a staff of the company, was posted as Branch Manager to […]

A branch manager of an Ilorin-based credit company, Self-Reliance Economic Advancement Programme (SEAP), has been remanded by an Ilorin Magistrate Court for allegedly diverting the sum of N5,802,950 belonging to the company for personal use.

According to the First Information Report, Oladepo who was a staff of the company, was posted as Branch Manager to the company’s Branch at Ankpa, Kogi State.

“Early this year. during a routine reconciliation account check, it was discovered that Oladepo criminally misappropriated and diverted the total sum of N5,802,950 to his personal use.

“During interrogation at the State CID, Ilorin, Oladepo was unable to give a satisfactory account of the said company’s funds,” the charge sheet added.

Prosecutor Nosiru Yusuf pleaded for the remand of the defendant.

Magistrate Ibrahim Mohammed ordered for his remand at the federal correctional centre and adjourned the case to June 21 for further mention.