Ex-Bank MD Bags 19 Years For N29m Fraud

A Federal High Court in Lagos yesterday sentenced a former acting Managing Director of Century Microfinance Bank Limited, Olise Robinson, to 19 years imprisonment for stealing N29 million from the bank.

Justice Okon Abang convicted Robinson of five counts of stealing, signature forgery, uttering of documents and criminal breach of trust.

According to the Police Special Fraud Unit (SFU), Alagbon-Ikoyi, Lagos, Robinson committed the offences while acting as the bank’s head between June 2008 and November 2009.

Prosecution counsel Chukwu Agwu said the offences contravened Sections 390(6), 463 and 468 of the Criminal Code 2008 and were punishable under Section 467 of the same Act.
Robinson pleaded not guilty.

During the trial, Agwu called four witnesses and tendered several exhibits.
The defendant testified for himself.

Convicting Robinson yesterday, Justice Abang noted that the defendant failed to give evidence that he didn’t receive the amount and provided no evidence to show that he invested the money in Central Bank of Nigeria (CBN) Treasure Bills.