Officers from the Power Intelligence Unit at the Power Headquarters Annex in Obalende, Lagos, have brought Alfred Emmanuel, a United Bank for Africa (UBA) employee, before a Lagos Magistrates’ Court. Emmanuel is accused of collaborating with other employees, who are still at large, to illegally withdraw N356,730,000 from a customer’s account belonging to Professor Abiodun Johnson.
Emmanuel and his alleged accomplices reportedly withdrew the funds without the customer’s knowledge, used them for personal gain, and fled. According to police, the accused, based at UBA’s University of Lagos (UNILAG) branch, allegedly conspired with others to forge a withdrawal booklet linked to Professor Johnson’s account.
Police reports indicate that the funds were withdrawn in multiple transactions and transferred to various accounts, from which the money was then distributed among the suspects. The scheme was exposed after intelligence officers at the Power Headquarters received a tip-off about the fraudulent activity and promptly launched an investigation.
Following days of intelligence gathering, Emmanuel was apprehended at a location in Lagos. A police source informed Naijaonpoint that efforts are underway to capture other suspects involved in the scheme.
Emmanuel has been charged with six counts of conspiracy, fraudulent withdrawal, theft, and forgery. The case, which was brought before the Igbosere Magistrates’ Court at Tinubu, Lagos Island, is being prosecuted by SUPOL Hyginus Idoko and his team.
Prosecuting counsel, Friday Mammeh, told the court in case W/25/2024 that the offences occurred between October 2023 and January 2024 at the UBA UNILAG branch. Mammeh stated that Emmanuel abused his position of trust, forging documents to withdraw N356,730,000 from Professor Johnson’s account without consent.
The charges, Mammeh said, are contrary to sections 325, 333, 287, 335, 322, 363, and 365 of the Criminal Law of Lagos State, 2015.
Emmanuel pleaded not guilty, and his lawyer, Barr. Austine Okeh, requested bail on lenient terms, noting that his client is a first-time offender who would not abscond if granted bail. Magistrate A.O. Alogba granted bail set at N1 million with two sureties, ordering Emmanuel’s detention at the Ikoyi Correctional Facility until the bail terms are fulfilled. The case has been adjourned for further proceedings.
