N182.3m Alleged Fraud: Four Richway Microfinance Bank Staff Docked in Lagos

ByNewsmakers

Mar 3, 2026 #Advance Fee Fraud Act Nigeria, #cybercrime impersonation Nigeria, #Federal High Court Lagos case, #ForceCID Alagbon arraignment, #Lekki bank fraud 2025, #N182 million bank fraud Lagos, #Richway Microfinance Bank fraud

Matilda Omonaiye/

Four staff members of Richway Microfinance Bank Limited have been arraigned before the Federal High Court, Lagos, over an alleged N182,302,151.75 fraud reportedly perpetrated against a customer.

The defendants, Imuraina Rebecca Ikeoluwa, Olabanji Adekunle Peter, Nwokoma Silverline Ngozi and Ayeni Samson Olubunmi, were arraigned by operatives of the Force Criminal Investigations Department (FCID), Alagbon-Ikoyi, before Justice Alexander Owoeye on a four-count charge bordering on conspiracy, obtaining by false pretence, unlawful transfer of funds and cybercrime-related impersonation.

Prosecutor Barrister Morufu Ajani Animashaun told the court that the alleged offences were committed between January and December 2025 at the bank’s Lagos office located at Plot 27, Admiralty Way, Lekki Phase 1.

According to the prosecution, the defendants allegedly conspired with others still at large to defraud account holders of Sanusi Hostel 1 and Sanusi Hostel 2, with account numbers 11000233002 and 12000233003 respectively.

The court heard that a total sum of N182,302,151.75 was allegedly transferred from the customers’ accounts into various accounts belonging to different individuals.

The prosecution further alleged that the defendants compromised the bank’s internal system and created a fake email address — sunnatbello@ghotmail.com, closely resembling the legitimate email sunatbello@hotmail.com, to execute the scheme.

The alleged offences contravene Sections 8(a) and 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006; Section 390(7) of the Criminal Code Act; and Section 13(b)(ii) and (iii) of the Cybercrimes (Prohibition and Prevention) Act, 2015.

All four defendants pleaded not guilty to the charges.

Following their plea, the prosecutor urged the court to remand them in the custody of the Nigerian Correctional Services pending trial.

However, defence counsel orally applied for bail, citing several legal authorities. Although the prosecution opposed the application on the grounds that no formal bail applications were before the court, Justice Owoeye granted bail to each defendant in the sum of N10 million with two sureties each in like sum.

The court ordered that the sureties must reside within the court’s jurisdiction and provide evidence of three years’ tax payment. The defendants were also directed to submit their National Identification Numbers (NIN), Bank Verification Numbers (BVN), and two passport photographs.
Additionally, the court barred them from travelling outside Lagos State without prior permission.

Justice Owoeye adjourned the matter until June 24, 2026, for trial and ordered that the defendants be remanded at the FCID facility in Alagbon-Ikoyi pending the perfection of their bail conditions.