Justice Olubunmi Abike-Fadipe of the Lagos Special Offences Court in Ikeja has directed the detention of Abiodun Sanni, a former branch manager of Polaris Bank Limited’s Iju branch, at the Kirikiri Correctional Facility. Sanni is accused of defrauding the bank of ₦122,011,441.
The Economic and Financial Crimes Commission (EFCC) brought Sanni before the court on allegations of fraud. The EFCC claimed that on February 24, 2020, while serving as the bank manager, Sanni fraudulently secured a ₦17,000,000 loan for Bamgbose Tayo Taofiq, trading under the name Banut Haulage. The loan was purportedly backed by a fixed deposit account worth ₦111,540,380.52, which turned out to be false.
Sanni faces a 16-count charge including obtaining credit under false pretenses, forgery, use of falsified documents, and theft. The EFCC further alleged that he dishonestly converted ₦15,011,441 from a Polaris Bank fixed deposit account belonging to Atolagbe Joshua Tinuoye.
The defendant pleaded not guilty to all charges. The EFCC’s counsel, M.S. Adewunmi, requested that Sanni remain in custody until the trial, noting plans to call 10 witnesses. However, the defense counsel, Osho Oludosu, indicated an intention to submit a bail application.
Justice Abike-Fadipe adjourned the case to March 6 and 19, 2025, ordered Sanni’s remand at the correctional facility, and instructed the defense to file the bail application before the trial dates.
Source:- Naijaonpoint
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