The Police at Lion Building have arrested Mrs Sadiku Ruth Olubunmi, a 39-year-old banker with Seedwest Limited on Balogun Street, Lagos Island, over allegations of stealing ₦116 million from customers’ accounts.
Olubunmi is accused of forging documents, including a letterhead of Towade Global Business Ventures, purportedly bearing the signature of Mrs Adelakun Funke, to fraudulently withdraw ₦15 million.
Police also alleged that she diverted ₦101 million received from various customers for deposits into her personal use.
The alleged fraud came to light after customers lodged complaints with the management of Seedvest Microfinance Bank Limited, prompting an internal review and a report to the police.
Following an investigation by Inspector Pius Ndegbe and his team, Olubunmi was arraigned before the Igbosere Magistrate’s Court sitting at the Tinubu Magistrate’s Court, Lagos Island.
She faced a four-count charge of obtaining money under false pretense, forgery, and stealing.
According to the prosecution led by Inspector Ejime Okete, the offences were committed between June and August 2024, during her tenure as a cashier responsible for receiving and depositing customers’ funds.
The charges contravene Sections 411, 365, 314, and 287 of the Lagos State Criminal Law, 2015.
Olubunmi pleaded not guilty to the charges.
Chief Magistrate B.A. Sonuga granted her bail in the sum of ₦2 million, with two sureties in like sum, and adjourned the case to 22 January 2025.
Until her bail conditions are met, she is to be held at the Ikoyi Correctional Facility.
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