N10m Fraud: EFCC Arraigns Two Bankers

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The Economic and Financial Crimes Commission (EFCC) today 19th February 2013, arraigned two Afribank (now Mainstreet Bank) staff before Justice Dije Aboki of the High Court of Justice Kano State on 10 count charge of misappropriation of depositors’ funds.

The accused persons, Hadiza Mustapha and Mahmud Salihi were said to have misappropriated the sum of N10 million being part of the N100m (One Hundred Million Naira Only) belonging to one Alhaji Munnir Adamu which was meant for safe keeping in the bank.


One of the charge reads,  “that you Hadiza Mustapha and Mahmud Salihi (being Bankers and staff of former Afribank now Mainstreet Bank Plc) sometimes between the months of March and June 2011, in Kano within the judicial division of the High Court of Justice Kano State illegally diverted and dishonestly misappropriated the sum N10m (Ten Million Naira Only) being part of N100m (One Hundred Million Naira Only) funds meant for  fixed deposit belonging to one Alhaji Munnir Adamu which he gave you for safe  keeping and you thereby committed an offence punishable under Section 315 of the Penal Code Law.”

The two accused persons pleaded not guilty to the charge when it was read to them. EFCC counsel, Ibrahim Ahmed then asked the court to fix a date for hearing in view of the plea of the accused persons. However, counsel to the accused persons, H.M Maruf and B.M Nuhu made an oral bail application for their clients.

But Justice Aboki adjourned hearing and ruling on the bail application to February 21, 2013 while ordering that the accused persons be remanded in EFCC custody.

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