Zenith Bank Manager In Trouble After Allegedly Stealing N179.4m (Photo)

A bank manager has been ordered to remain in police custody. The order was issued by a Federal High Court in Lagos on Tuesday.

The court ordered that the manager of the Asaba branch of Zenith Bank Plc, Mr. Fidelis Egueke, remain in custody until December 1, pending the hearing and determination of his bail request.

Judge Austine Chuka Obiozor ordered that Egueke remain in the custody of the Department of Criminal Investigation of the Force (Force CID) Alagbon, Ikoyi, Lagos. The warrant followed Egueke’s plea of ​​’not guilty’ to three counts of conspiracy and N179million fraud.

Prosecutor Morufu A. Animashaun told the court that between May 14, 2010 and December 31, 2019, at No. 2 of Balogun Close, Ikoyi, Lagos, the accused and other fugitives conspired to obtain said sum of a firm, Global Select Investment Services Ltd, “Under the false pretense that it will help the company to sell some goods and remit money to its bank account.”

Animashaun alleged that the defendant, by selling the goods, diverted the proceeds to his Zenith bank account number 1020019782, but told Global Select Investment Services that most of the goods imported from the US were inferior and in low demand.

The court heard that the alleged crimes violated Section 8 (a) and 1 (1) (3) of the Prepayment Fraud and Other Fraud-Related Offenses Act of 2006 and punishable under Section 390 (7) of the Penal Code Law of 2004.