Man Faces Court for Allegedly Stealing N4.9 Million from Lagos Micro Finance Bank

A 30-year-old man, Emmanuel Ekakati, has been charged with stealing N4.9 million from Green Ville Micro Finance Bank in Lagos, Nigeria, and is currently standing trial at the Igbosere Magistrates' Court. The alleged theft occurred at the bank's branch on Abaranje Road, Ikotun, Lagos, and Ekakati has pleaded not guilty to the charge, with the case adjourned until May 27 for further hearing." This description focuses on the primary topic of the article (the theft charge against Ekakati), the main entities involved (Ekakati, Green Ville Micro Finance Bank, and the Igbosere Magistrates' Court), the context (Lagos, Nigeria), and the significant actions and consequences (the alleged theft, the trial, and the potential prison sentence). The description also provides objective and relevant details that will help an AI generate an accurate visual representation of the article's content, such as the setting of the bank branch and the court proceedings.

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Aqsa Younas Rana
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Man Faces Court for Allegedly Stealing N4.9 Million from Lagos Micro Finance Bank

Man Faces Court for Allegedly Stealing N4.9 Million from Lagos Micro Finance Bank

Emmanuel Ekakati, a 30-year-old man, appeared before the Igbosere Magistrates' Court in Lagos on Tuesday for allegedly stealing N4.9 million from Green Ville Micro Finance Bank. The alleged theft occurred at 5:00 p.m. on April 29 at the bank's branch on Abaranje Road, Ikotun, Lagos.

Why this matters: This case highlights the persistent issue of theft and fraud targeting financial institutions in Lagos and other parts of Nigeria, which can erode public trust in the banking system. Effective prosecution of such cases is crucial to deterring others and protecting the assets of banks and their customers.

Ekakati is standing trial on a one-count charge of stealing preferred against him by the police. According to the charge, the defendant dishonestly converted the sum of N4.9 million belonging to the micro finance bank to his own personal use without seeking the company's consent. The alleged offence contravenes Section 287 of the Criminal Law of Lagos, 2015.

During the court proceedings, the defendant pleaded not guilty to the charge. Magistrate Miss K. A. Ariyo granted Ekakati bail in the sum of N500,000 with two sureties in like sum. The sureties must be gainfully employed and show evidence of tax payment to the Lagos State Government.

The case has been adjourned until May 27 for further hearing. If convicted of the charge, Ekakati could face a significant prison sentence under Lagos State's criminal laws.

Theft and fraud targeting financial institutions remain persistent issues in Lagos and other parts of Nigeria. Law enforcement agencies continue efforts to investigate and prosecute individuals accused of such crimes in order to deter others and protect the assets of banks and their customers.

The outcome of this case against Emmanuel Ekakati will be determined as the legal proceedings move forward. The charge of stealing nearly 5 million naira from Green Ville Micro Finance Bank is a serious allegation that the court will scrutinize closely based on the evidence presented.

Key Takeaways

  • Emmanuel Ekakati, 30, faces N4.9m theft charge at Igbosere Magistrates' Court.
  • Allegedly stole from Green Ville Micro Finance Bank's Ikotun branch on April 29.
  • Pleaded not guilty, granted N500,000 bail with two sureties.
  • Case adjourned until May 27 for further hearing.
  • If convicted, Ekakati could face significant prison sentence.