Thu. Sep 29th, 2022

Union Bank Staff Arraigned Over Alleged N80m Fraud

Union Bank Staff Arraigned Over Alleged N80m Fraud

An employee of Union Bank of Nigeria (UBN) Kolapo Oduwole, has been arraigned before a Kastina State’s High Court, over alleged N80 million fraud.

Kolapo was assigned before Justice Musa Danladi led-court by Kano State office of the Economic and Financial Crimes Commission (EFCC) on a six-count charge of alleged forgery and fraud of the mentioned amount.

To perpetrate the alleged offences, Kolapo was alleged to have forged the Bank’s Relationship Manager’s signatures on three fixed deposits certificates, presented same to some customers, which the subsequently used to fix their money in fixed deposit accounts under his control.

It was alleged further that, after the money was fixed, the Union Bank’s staff, transferred the customers’ money into various accounts to conduct his personal businesses.

The offences according to the EFCC are contrary to section 340 and punishable under section 341 of the Penal Code Law of Katsina State 2019.

The defendant pleaded not guilty to the offences, the development that made the prosecutor, Aisha Tahar Habib, to ask for trial date and that the defendant be remanded in the Commission’s custody as he is still under investigation.

Kolapo’s lawyer, M.M Rimaye, did not object to the prosecution’s  application.

Consequently, Justice Danladi, while adjourning the matter till October 12, 2020 for commencement of trial and remanded the accused person in EFCC’s custody.


One of the counts against the defendant read that
 “You Kolapo Oduwole on the 3rd March, 2020 at Katsina, within the jurisdiction of this honourable court forged a certain document to wit: Re: Investment of (N80,000,000) Eighty Million Naira Only with intent to cause damage to one Abubakar Mohammed by making him to believe that you had placed the money in a  fixed deposit with Union Bank and you thereby committed an offence contrary to section 340 and punishable under section 341 of the Penal Code Law of Katsina State 2019″.