Metro

Court Remands Zenith Bank Manager Over Alleged N179.4m Fraud

A Federal High Court, Lagos on Tuesday ordered the remand of the Asaba branch manager of Zenith Bank Plc, Mr. Fidelis Egueke, in the custody of Force Criminal Investigation Department (ForceCID) Alagbon, Ikoyi, Lagos till Tuesday, December 1, 2020, when his bail application will be heard and determined.

The court presided over by Justice Austine Chuka Obiozor, made the remand order against the Zenith Bank Manager, after he pleaded not guilty to the three counts charge of conspiracy and fraud of N179, 498 million, made against him by the men of Force CID, Alagbon, Ikoyi, Lagos.

Arraigning the defendant, the prosecutor, Morufu A. Animashaun, told the court that the defendant and others now at large, between May 14, 2010 and December 31, 2019, at No. 2 Balogun Close, Ikoyi, Lagos, conspired among yourselves to obtain the said sum from Global Select Investment Services Limited, by false pretence that he will help him sell some goods and remit money to his bank.
The prosecutor, Barrister Animashaun, told the court that the defendant, upon selling the goods, diverted the proceeds to his personal account, Zenith Bank Account Number 1020019782.

The defendant however informed the victim that most of the goods he imported from USA were inferior and un-demanded for.

The prosecutor told the
court that the offences committed by the defendant, are contrary to Section 8(a) and 1(1) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2006 and punishable under section 1(3) of the same Act. And Section 390 (7) Criminal Code Act Laws of Federation 2004.

The Zenith Bank manager however pleaded not guilty to the allegations.

With his not guilty plea, the prosecutor asked the court for trial date, and also urged the court to remand him in custody of the Nigerian Correctional Services (NCS) pending the determination of the charges against him.

But counsel to the defendant, Mr. Richard Ahaomarugho, while not oppose the trial date as requested by the prosecutor, however orally urged the court to grant bail to his client.

Justice Austine Chuka Obiozor however refused the demand on the ground that the court is a court of record.

Consequently, Justice Obiozor, adjourned the case till Tuesday, December 1, 2020, for hearing of defendant’s bail application, and ordered that he be remanded in the custody till the hearing and determination of the bail application.

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