The management of Infinity Microfinance Bank Limited Headquarters located in Ketu area of Lagos, Southwest, Nigeria has dragge\d two of its staff before a Lagos Magistrate Court for allegedly collecting a total sum of N6,419,218 from customers of the bank and converted it to their use instead of remitting the money into the bank’s account.

The accused persons, Olamilekan Saliu, 27 and Nnadi John, 37, according to the Police were arrested on the order of the Assistant Inspector General of Police, AIG in charge of Zone 2 Command, Onikan, Lagos, Adamu Ibrahiim following a complaint by the management of Infinity Microfinance Bank Limited.

The accused were arraigned before an Igbosere Magistrate Court  on a three count charge of felony to wit.stealing.

Police Prosecutor, Francis Igbinosa informed the Court in charge No T/64/2017 that the accused persons committed the alleged crime in August, 2017 at Infinity Microfinance Bank Limited Headquarters, Ketu, Lagos during working hours.


Igbinosa told the Court that the accused persons used their positions as head of sales in the bank to defraud their employer of a total sum of N6,419,218 by collecting money from the customers of the bank and converting same to their use.

Igbinosa alleged that the accused also perpetrated the alleged fraud by granting loans to non-existing customers and diverting the money to their use.

He alleged that Olamilekan Saliu stole the sum of N4,218,358 belonging to his employer while Nnadi John allegedly stole the sum of N2,200,860, property of Infinite Microfinance Bank.

Igbinosa said that the offences the accused committed were punishable under sections 411 and 287 (8) of the Criminal Laws of Lagos State, 2015.

The accused, however, pleaded not guilty to police’s allegations in the open court and Magistrate A.A Adetunji granted them bail in the sum of N1m each with two sureties each in like sum.

Adetunji adjourned the case till 13 December, 2017 for mention and ordered that the defendants be remanded at the Ikoyi Prison, Lagos till they were able to perfect the bail conditions.


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