NAN-H-25
Bank-manager
By Deborah Akpede
Lagos, Jan. 26, 2018 (NAN) For granting about N2.3 million bad loans to some customers of a micro-finance bank, the manager, Kadiri Olanrewaju, was on Friday hauled up before an Ikeja Magistrates’ Court in Lagos.
The accused was arraigned before Magistrate O.J. Awope on a two-count charge of disobedience to regulations and neglect to perform an act.
Olarenwaju, 42, who resides at Ejigbo area of Lagos, however, pleaded not guilty and was admitted to a bail of N500,000 with two sureties in like sum.
Awope said the sureties should be gainfully employed with an evidence of two years tax payment to the Lagos State Government.
Earlier, the Police Prosecutor, ASP Ezekiel Ayorinde said the accused committed the offences on July 28 at Egbeda, a Lagos suburb.
He told the court that the accused disobeyed the instructions of Davodani Micro-Finance Bank not to grant loans to customers, pushing the bad loan portfolio of the bank to N2.3 million.
The accused failed to comply with the bank management’s instruction not to give out loans and went ahead to disburse about N2.3 million which he cannot recover, Ayorinde alleged.
“The accused granted loans to some customers in 2016 without repayment and as a result of this, the management gave him an order not to grant further loans until the debtors pay back.
“Despite the instruction, the accused still went ahead to grant loans to 26 customers to the tune of N2.3 million.
“Efforts to get the debtor-customers to pay back were unsuccessful as none of them could be found,” he said.
“The case was reported to the police and the accused was arrested.”
The offences contravened Sections 73 and 123 of the Criminal Law of Lagos State, 2015 (Revised).
The News Agency of Nigeria (NAN) reports that Section 73 stipulates five years imprisonment, while Section 123 provides a three-year jail term.
The case was adjourned until Feb.19 for mention. (NAN)
DOA/IKU/DA
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Edited by Tayo Ikujuni/Dele Akinsola