A head of internal audit in First Bank, Mr Chris Owai, has told an Ikeja Special Offences Court how two former staff of the bank, Stella Oyeluyi and Noel Benjamin allegedly falsified the account number of Chevron Cooperative by debiting N41.5 million to pay debt to another bank customer.
The defendants are standing trial alongside Graham Ehigiator, the Managing Director of Bvee International Ltd, on a three-count charge of conspiracy to commit felony, fraudulent false accounting and stealing.
Owai while being led in evidence by the Economic and Financial Crimes Commission, EFCC, counsel, Mr Babatunde Sonoiki, told the court that the first defendant, a former business manager attached to Chevron Branch of First Bank in Lekki, recalled the investment of Chevron Multipurpose Cooperative to pay money to another bank customer without their consent.
The witness told the court that on March 28, 2019, Chevron Multipurpose Cooperative called in its investment from First Bank Quest Asset Management, which was a subsidiary of the bank that handled the facility above N10 million.
“At the time they called in their investment, the new business manager of the branch was the first defendant. The audit department discovered a short fall to the tune of N84 million when the investment was called.
Read Also: How First Bank Officials Aid N900m POS Fraud
“The first defendant was invited to an internal audit for questioning. When we interviewed her, she said that one Bvee International Ltd, the company of third defendants applied for a 100,000 dollar loan which he could not meet up with the payment.
“The first defendant said she contacted another customer of First Bank, one Uche Adaba who agreed to pay the loan to Bvee
“The first defendant recalled the investment of Chevron Multipurpose Cooperative without their consent and used it to pay Adaba,”the witness said.
The EFCC alleged the first and second defendants, with intent to defraud being employees of First Bank conspired to commit felony by falsifying account number 000025656752 belonging to Chevron Cooperative (MFP) by debiting the said account in the sum of N41.5 million without the consent of FBN Chevron Cooperative (CEMCS/MF-B-MMF).
Also Read: First Bank Plc Loses N61.4m Judgment Sum Appeal
The anti-graft agency also alleged that the third defendant conspired with the first and second defendants with intent to defraud, stole the sum of N41.5 million, property of First Bank of Nigeria Quest Capital.
According to the prosecution, the alleged offences contravened Sections 278, 335(a) and 409 of the Criminal Laws of Lagos State, 2011.
Justice Mojisola Dada adjourned the case until Dec. 9 for continuation of trial
