Banker accused of stealing N27m from customer’s account

Bawa Momodu

The Economic and Financial Crimes Commission has arrested a banker, Bawa Momodu, for allegedly stealing N27m from the account of a bank customer.

It was gathered that Sterling Bank Plc had petitioned the commission, alleging that Momodu, a former employee of the bank, stole N27m from the account of one of its customers.

“The accused allegedly forged the signature of the said account holder, and fraudulently withdrew the money from the bank.

“Investigations further revealed that the said amount was transferred to the Sterling Bank account of one Emilia Ugwandu, who is now at large, in a bid to hide the source of the stolen funds,” EFCC spokesman, Wilson Uwujaren, said.

Momodu was arraigned before before Justice I.E. Ekwo of the Federal High Court sitting in Port Harcourt, Rivers State, on 16 counts bordering on forgery.

The charges read in part, “That you, Bawa Momodu, on or before December 17, 2012, in Port Harcourt, within the jurisdiction of this honorable court, did present to officials of Sterling Bank Plc a forged Sterling Bank Fund Transfer document No. 1238802 in favour of Don Kumy Ventures Nigeria Limited, with the intent that Sterling Bank Plc may act upon it as genuine and thereby committed an offence contrary to Section 1(2)(c) of the Miscellaneous Offences Act, Cap M17, Revised Edition, Law of the Federation of Nigeria, 2007, and punishable under Section 1(2) of the same Act.”

The accused pleaded not guilty.

Counsel for the EFCC, A. Olatunji, asked for a date for the commencement of trial. However, the defence counsel, Allen Nwogwama, prayed the court to grant his client bail.

Justice Ekwo admitted the accused to bail in the sum of N7m with one surety in like sum.

He said, “The surety must be a responsible member of the society with landed property worth the bail sum, to be verified by the court registrar and the prosecution.

“The accused is also to be reporting at the EFCC office on the last day of every month.”