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Business & Finance

Ecobank Branch Manager Arrested Over Alleged N14M Fraud

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The management of Ecobank Nigeria has facilitated the arrest of the operational manager of its Ejigbo branch, Akhanenu Ikechukwu over an alleged fraud of N14m.

According to reports, the 41-year old banker was handed over to security operatives by management of the bank after he was allegedly caught withdrawing N14,014.157 from the account of two customers of the bank without authority.

Confirming the report, the bank’s Corporate Affairs Department stated that Ikechukwu was handed over to the Nigerian Police at the Ikoyi Division Lagos, Western Nigeria for the reported offence.

It was further gathered that the bank manager shared the money with a certain Nduka Stephen, whose age was given as 36 years old.

According to the police, the suspects were arrested following a complaint by the management of Ecobank.

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Ikechukwu’s alleged misappropriation of customers’ funds was revealed when the management of Ecobank audited their account books and discovered the fraud.

After investigation by Sergeant Ijatuyi Tope and his team, the suspects were arraigned before an Igbosere Magistrates’ Court, Lagos on Monday on a four-count charge of felony to wit fraud, forgery and stealing.

The accused persons pleaded not guilty to the allegations and Magistrate P.A. Adekomaiya admitted them to bail in the sum of N3m each with two sureties each in like sum.

Adekomaiya adjourned the case till 11 July, 2016 for mention, while the defendants were taken to Ikoyi Prison, Lagos pending the perfection of their bail conditions.


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