Banker Remanded In Prison Over N36m Debt

Justice Bello Duwale of the Sokoto State High Court has remanded a Sterling Bank Plc worker, Olanrewaju Yusuf, in prison custody for cheating to the tune of N36m and issuing of dud cheques.

The Economic and Financial Crimes Commission arraigned Yusuf, who is the Chief Executive Officer, Viclibo Ventures, on five counts bordering on the issuance of dud cheque, criminal breach of trust and cheating.

A complainant, Tunde Akinola, had alleged that sometime in January 2018, Yusuf, who worked with the Sokoto branch of the bank requested a N30m loan for the establishment of a biscuit and juice production factory with a pledge to pay back the money with 10 per cent interest.

Akinola stated that he rallied round friends and colleagues to raise the money, which he gave to the accused via his United Bank for Africa account on condition that the loan should be paid back by March 2018.

Pursuant to the agreement, Yusuf allegedly issued three post-dated Diamond Bank cheques of N10m each and another for N6m, all of which were dishonoured by the bank on presentation.

Yusuf pleaded ‘not guilty’ to the charges.

Counsel for EFCC, S.H. Sa’ad, urged the court to fix a date for commencement of trial and asked that the defendant be remanded in prison custody, but the defence counsel, Ferdinard Okotete, prayed the court to grant his client bail.

Justice Bello, however, ordered that the defendant be remanded in prison custody and fixed April 25, 2019 for hearing of bail application.