Sterling Bank Manager, Elliot Abiodun In Alleged $110,000 Theft Scandal

A Sterling bank manager, Elliot Abiodun, who allegedly stole $110,000 (N40 million) from Sterling Bank, was on Friday arraigned before an Igbosere Magistrates’ Court in Lagos.
Abiodun, is standing trial on a two-count charge bordering on conspiracy and stealing.

The Prosecutor, Friday Mameh, told the court that the accused committed the offences on June 3, at 10 a.m. in Lagos.
He said the accused stole the $110,000 property of Sterling Bank Plc.
The prosecutor said the offences contravened Sections 287(8) and 411 of the Criminal Law of Lagos, 2015.

The accused, however, pleaded not guilty to the charges.
Counsel to the accused, T.J. Agoro, urged the court to grant his client bail.
Agoro told the court that he would stand surety for the accused and ensure that he showed up in court till the determination of the case.

The Magistrate, O. A. Olagbende, released the accused to his counsel on the grounds that the lawyer would ensure that the accused attends court’s proceedings.

The Magistrate adjourned the case until September 19 for mention.

In mixed reactions to this development, a customers of sterling bank said it means the bank method of keeping people’s funds is porous, how can a manager wake up one day and do away with N40m.
 urthermore he said is not a day operation and that the bank should surmmon all those in the ICT department, that without them the operation can’t be perfected.