A former staffer of Sterling Bank Plc, William Owoeye, 34 has been arrested by the police at the Lion Building Division, Lagos Island, Southwest, Nigeria and charged before a Lagos Magistrates’ Court for allegedly stealing the sum of N2m from his employer’s account.

Police alleged that Owoeye perpetrated the fraud by using the name of a customer of the bank to obtain a N2 million loan without the consent of the customer and converted the loan to his use and escaped.

Police further alleged that the fraud was uncovered when the management of the bank audited its account and discovered that Owoeye in a bid to defraud cleverly gave out a N2million loan to a customer of the bank who never asked for a loan and converted the loan to his personal use to look like it is the customer that took the loan and escaped.

Following the alleged sharp practice by Owoeye, the bank’s management reported the alleged fraud to the Divisional Police Officer, DPO in charge of Lion Building Division who directed his men to fish out the fleeing banker anywhere he might be hiding.

The Police team swung into action and tracked him to a hideout in Lagos and arrested him.

The defendant, a resident of Ilogbo Road, Ota, Ogun State from Ekiti State was charged before the Tinubu Magistrates’ Court, Lagos Island on a two-count charge bordering on obtaining money under false pretence and stealing.

Police Counsel, Ben Ekundayo informed the court in the charge marked W/22/2023 that the defendant committed the offence in April 2022 during working hours at Sterling Bank Plc just four months after he secured the job.

He said the offences, the defendant committed were punishable under Sections 411 and 314 (1) of the Criminal Law of Lagos State, 2015.

The defendant, however, pleaded not guilty to the charges and the presiding Magistrate granted him N200,000 bail with two sureties in like sum.

The Magistrate adjourned the case till 28 July 2023 for mention and ordered that the defendant be detained at the Ikoyi Correctional Facility till he perfected the bail condition.