N187 Million Fraud: Sterling Bank Manager Reminded in Prison

Posted by African Examiner Featured, Latest Headlines, News Wednesday, May 8th, 2019

From Ignatius Okpara, Enugu

(AFRICAN EXAMINER) – A former acting Enugu branch manager of Sterling Bank Plc, Oliver Anidiobi have been remanded in prison custody by an Enugu High Court for allege N187 million fraud.

The suspect was arraigned Tuesday by the Economic and Financial Crimes Commission (EFCC) before Justice C.O. Ajah on a 32-count charge bordering on forgery and stealing from the OHHA Micro Finance Bank, Enugu where he served as the Account Relationship Officer.

The anti-graft agency alleged that its investigation revealed that Anidiobiu used his position to convince the micro finance bank to deposit the said amount with him with an accompanying letter of instruction (which he acknowledged) to Sterling Bank.

He fixed the amount on behalf of the micro finance bank, only for him to allegedly forge a ‘Fixed Deposit Certificate’ as evidence of their investment.

Thereafter, upon receipt of several installments of the money totaling N187 million, he allegedly diverted the money to his personal use to build a two-storey building of five flats, several plots of land along Enugu Port Harcourt Expressway and an uncompleted four-bedroom bungalow at Centenary Estate, Enugu.

He was also alleged to have made an investment of over N65 million.

His journey to the dock began when OHHA Microfinance Bank decided to liquidate their two fixed deposits only to discover that there was no record of the transactions found in the system.

One of the counts against him reads this: “Anidiobi Oliver Chukwuka, sometime between 15th day of August, 2014 and 28th day of August, 2014 in Enugu, within the Jurisdiction of this Honourable Court did commit a felony to wit: stealing by fraudulently converting to your personal use the aggregate sum of N5 million naira only, being property of OHHA Micro finance Bank Limited and thereby committed an offence.”

After listening to the charges, the accused person pleaded not guilty to the charges.

The defence counsel, Barrister O.A.U. Onyema, informed the Court that he had an application for the bail of the defendant, but the prosecuting counsel, Micheal Ani, told the Court that “the defence just served me in court this morning some few minutes ago”.

Justice Ajah, after listening to both counsels adjourned the matter to June 7, 2019 for hearing of the bail application and ordered that the accused be remanded in prison custody.