Operatives of the Force Intelligence Unit of the Nigerian Police have brought Alfred Emmanuel, a staff member of United Bank for Africa (UBA), before a Lagos Magistrates’ Court for his involvement in a massive fraud.

Alfred, aged 39, is accused of conspiring with other unnamed accomplices to fraudulently withdraw the sum of N356,730,000 from the account of Professor Abiodun Johnson, a customer of the bank.
The accused allegedly forged the withdrawal booklet on the professor’s account and withdrew the funds without consent.

They are believed to have converted the money to their personal use and subsequently fled. Alfred was reportedly attached to the University of Lagos (UNILAG) branch of UBA. While he has been apprehended, the other staff members involved in the fraud remain at large.

According to the police, the accused withdrew the money at different times to various accounts from where they withdrew and shared it.

Police further alleged that the secret became open when the Intelligence operatives at the Force Headquarters received a tip-off of the alleged fraudulent act and swiftly swung into action.

After days of intelligence gathering, Alfred was arrested at a hideout in Lagos.

A Police source revealed that operatives were intensifying efforts to arrest other suspects involved in the fraud.

Alfred was charged before the Igbosere Magistrates’ Court sitting at the Tinubu Magistrates’ Court, Lagos Island on a six-count bordering on conspiracy, fraudulent withdrawal, stealing and forgery, after an investigation by SUPOL Hyginus Idoko and his team.

Police prosecuting Counsel, Friday Mammeh told the Court in the charge marked W/25/2024 that the defendant and others still at large committed the offence between October 2023 and January 2024 at UBA bank UNILAG branch, Lagos.

Mammeh informed the court that the defendant betrayed the trust reposed in him by his employer and connived with others to forge the withdrawal booklet belonging to a customer of the bank, Professor Abiodun Johnson to withdraw the sum of N356,73,000 from his account without his consent and escaped.

He said the offences, the defendant committed were contrary to and punishable under sections 325, 333, 287, 335, 322,363 and 365 of the Criminal Law of Lagos State, 2015.

Alfred, however, pleaded not guilty to the charges and his Counsel, Barr. Austine Okeh prayed the Court to grant him bail in the most liberal terms insisting that the defendant is a first-time offender and would not jump bail if granted.

Magistrate, A.O. Alogba granted him N1m bail with two sureties in like sum, adjourned the case and ordered that the defendant be detained at the Ikoyi correctional facility till he perfected the bail conditions.