Ayomide Lamidi, 29-year-old loan officer, on Thursday appeared before an Ogudu Magistrates’ Court, Lagos, for allegedly stealing N11.6 million belonging to his employer of one of the Microfinance Banks.
Inspector Sunday Bassey , prosecutor, told the court that the defendant committed the offence between January and July, 2025 at the bank’s branch located along Ikorodu Road, Ketu.
Bassey said an internal audit revealed that the defendant diverted customers’ loan repayments and deposits for personal use without remitting them into the bank’s account.
He said Mr Adesola Adebowale, the bank’s auditor, and Yetunde Ogundare, branch manager, reported the matter to the police after discovering the fraud.
The prosecutor added that during interrogation, the defendant admitted to the act.
He said the offence contravened Section 287(7) of the Criminal Law of Lagos State, 2015.
Mrs O.A. Daodu, magistrate, granted the defendant bail in the sum of N700,000 with two sureties in like sum.
The case was adjourned until Oct. 7, 2025, for further hearing.
(NAN)
