EFCC Arraigns Banker for Alleged N80m Fraud

Economic and Financial Crimes Commission (EFCC) has arraigned Kola Oduwole, an employee of Union Bank, for an alleged fraud involving the sum of N80m.

Oduwole was brought before Justice Musa Danladi of the Katsina State High Court by the Kano Zonal Office of the EFCC on six counts bordering on forgery and fraud.

Oduwole was alleged to have forged signatures of the Relationship Manager of the bank on three fixed deposit certificates, presented same to some customers and subsequently got customers to deposit their funds in deposits accounts controlled only by him.

The EFCC in a statement by Dele Oyewale, head, Media and Publicity, disclosed that investigation had revealed that after the money was fixed, the defendant transferred it into various accounts to conduct his personal businesses.

One of the charges against him 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 N80m 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.”

The accused person, however, pleaded not guilty to all charges.

In view of his plea, prosecution counsel, Aisha Habib requested the court for a trial date and that the defendant should be remanded in the EFCC custody as he was still under investigation.

M.M. Rimaye, defence counsel, did not object to the prosecution’s application.

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