Ex-banker re-arraigned for alleged N19.5m theft

The Police in Ibadan on Friday re-arraigned a 31-year-old ex-banker, Ogunsola Israel, over an alleged N19.5 million fraud.

Israel was docked at an Iyaganku Chief Magistrates’ Court on a three-count charge bordering on stealing and fraudulent transaction.

He was previously arraigned on Aug. 24, 2012 before Magistrate Sola Adekujoye.
Israel had pleaded not guilty to the three-count charge preferred against him and was granted bail in the sum of N5 million.

During Friday’s proceeding, the Police Prosecutor, Insp. Ade Adebusoye, said the re-arraignment was necessitated by the transfer of the presiding magistrate out of the court’s jurisdiction.

Adebusoye told the court that the accused committed the offence between July 2011 and March 2012 within the premises of Stanbic IBTC Plc, Ring Road, Ibadan.

He said the accused, a former employee of the bank, failed to account for the aforementioned amount that was received on behalf of the bank.

Adebusoye further alleged that the accused also made fraudulent transactions on the Stanbic IBTC Account no: 9200927941.

According to the prosecutor, the offences contravene Sections 390 (9) and 438 (B &C) of the Criminal Code Cap 38 Vol. II Laws of Oyo State of Nigeria 2000.

The accused, again, pleaded not guilty to the charges.

The Magistrate, Mr A. A. Adebisi, held that the accused was allowed to continue with the previous bail terms.

He adjourned the case to Aug. 27 for hearing.