Admin l Sunday, July 31, 2022
LAGOS, Nigeria – A former Head of Operations of Fairmoney Microfinance Bank, Mr. Kingsley Isiguzo has been arraigned before a Lagos State Magistrate Court, sitting in Ogba for alleged N40 million fraud.
Isiguzo who was arraigned on three counts charge of conspiracy and fraud allegedly demanded for a refund initiation token from the customer support team lead of the bank and thereafter initiated fictitious refunds, using codes of existing refund requests which had already been settled.
According to the Police Prosecutor, Emmanuel Eze, the defendant and others now at large allegedly committed the offences between January and March this year and that the offence contravenes sections 411, 287(7) and 314(1) of the Criminal Law of Lagos State, 2015
The defendant pleaded not guilty to the charges after which the magistrate admitted him to bail in the sum of N5m with one surety in like sum.
While adjourning the matter till November 14, 2022, for trial, the Magistrate ordered that the defendant be remanded in the custody of the Nigerian Correctional Services until perfection of bail.
