Ecobank ex-manager, Ifeanyi Azike has been charged with an alleged fraud of N561 million by the Police Special Fraud Unit.
Azike has been arraigned on two counts before the Federal High Court in Lagos. The police accused him of fraudulently obtaining N150m from one Mr Okafor Kelvin, a customer of the bank, on the claim that he would help him purchase the Federal Government Treasury Bill in Ecobank.
The police further alleged that Azike converted a sum of N411 million belonging to the bank and its customers to his own.
The prosecuting counsel for the police, Daniel Apochi, told Justice Ayokunle Faji last week that Azike committed the offences between 2016 and 2017.
He said the defendant acted contrary to sections 1 (1) (a), 15(1)(2) and 15(2)of the Advance Fee Fraud and Other Fraud related Offence Act No. 14 of 2006, and was liable to be punished under Section 1 (3) of the same Act.
However, Azike pleaded not guilty to the two counts. While adjourning till March 8, 2019 for the hearing of his bail application, Justice Faji ordered that Azike should be remanded in the prison custody.