Man sued for withdrawing $123,000 wrongly transferred to his domiciliary account

A man identified as Sikiru Olayinka has been charged to court by the Nigerian police for allegedly stealing $123,000 wrongly transferred to his domiciliary bank account.

According to the spokesman of the Lagos State Police Special Fraud Unit, Ikoyi, SP Eyitayo Johnson, the defendant along with his company, Excampo Nigeria Limited were charged to the Federal High Court, Ikoyi-Lagos, for offences bordering on fraudulent conversion and stealing of $123,000.00 being money wrongly transferred into his company’s domiciliary account on September 5, 2018.

He said, “On receipt of the funds into his account, Sikiru Olawale, within hours, quickly visited the bank and transferred $120,000.00 in two tranches into accounts of his cronies.

“The bank made concerted efforts to recover the funds in order to channel same to the rightful account, but Sikiru Olayinka refused and frustrated these efforts and continued to dissipate the money contrary to the provisions of Banks and Other Financial Institutions Act, 1991, and the Failed Banks Act, 1994.”