Accountants Charged For Stealing Cooperative’s N4.5m | Independent Newspapers Limited
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Accountants Charged For Stealing Cooperative’s N4.5m

Posted: May 8, 2015 at 4:23 am   /   by   /   comments (0)

The Economic and Financial Crimes Commission (EFCC) has arraigned two accountants, Zaccheus Olaniyi and Seyi Agbekuyide, over alleged theft of N4.5 million belonging to a cooperative society.

The defendants who are members of the Staff Cooperative and Credit Society of the College of Medicine, Idi-Araba, Lagos, were charged before Justice Oluwatoyin Ipaye of an Ikeja High Court.

Olaniyi, aged 42 years, lives at No. 21, Elegbede St., Aguda, Surulere, while Agbekuyide, 39, is resident at Peace Estate, Ijaiye, in Lagos.

The defendants are facing a 13-count amended charge bordering on conspiracy to steal and forgery.

The EFCC counsel, Mr Abba Mohammed, said the defendants committed the offences between August 2007 and April 2009.

At the period the two were financial secretary and treasurer of the cooperative respectively.

Mohammed said they fraudulently withdrew various sums of money from the cooperative’s coffers by forging the signature of its then President, Mrs Omolara Jimoh.

According to him, their offences contravene Sections 309 (9) 427 and 516 of the Criminal Law of Lagos State of Nigeria 2011.

NAN reports that the offence of stealing attracts three years imprisonment upon conviction.

Olaniyi and Agbekuyide, however, pleaded not guilty to the charge. The judge ordered Olaniyi to be remanded in Kirikiri Maximum Prisons, pending the hearing and determination of the matter.

She, however, permitted Agbekuyide to enjoy the bail earlier granted to him by the court.
NAN reports that the matter was adjourned till May 15 for trial.

In a related development, a 43-year-old businessman, Lamidi Moruf, has been charged before a Tinubu Chief Magistrates’ Court in Lagos for allegedly defrauding an accountant of N1.3 million.

Moruf, whose address is unknown, is facing charges of obtaining under false pretences and stealing.

He, however, pleaded not guilty to the charges.

But the prosecutor, Chidi Okoye told the court that Moruf committed the offences sometime in February at Lagos Island branch of Zenith Bank at Campbell Street.

He said the accused induced one Mr Olushola Shenaike, an accountant, to part with N1.3 million under the guise of helping him to buy a second-hand Toyota Corolla (tokunbo) car from the Republic of Benin.

Okoye alleged that after receiving the money from Shenaike, Moruf failed to buy the car as promised or refund the money to the complainant.

According to the prosecution, the offences contravene Sections 285 (1) and 312 of the Criminal Law of Lagos State, 2011.

The News Agency of Nigeria (NAN) reports that Section 312 recommends a 15-year jail term for false pretences, while Section 285 prescribes three years for stealing.

NAN also reports that Shenaike was in court as prosecution witness.

The Chief Magistrate, Mrs. A.O. Awogboro, granted the businessman bail in the sum of N200,000 with two sureties in like sum and adjourned the case to June 2 for mention.