Banker Found Guilty Of 700 million Naira Fraud

The Lagos High Court sitting in Ikeja, on Tuesday convicted an ex-relationship officer with Coronation Merchant Bank, Nsa Ayi, over allegations of fraud made against him by the Economic and Financial Crimes Commission (EFCC).

The EFCC had brought the defendant before the court on February 26 for conniving with some unknown persons to move funds, using customers’ electronic
instructions meant for investment in the Federal Government of Nigeria (FGN) Bonds, Treasury Bills and Fixed Deposits.

Ayi was also accused of altering instructions and falsifying signatures of customers in order to transfer money in portions into his Guaranty Trust Bank and Zenith Bank accounts.

The defendant had pleaded not guilty at his initial arraignment but at resumption of proceedings on Tuesday, his counsel Robert Clarke said that after a close perusal of the prosecution’s proof of evidence, the defendant had decided to change his plea from not guilty to guilty.

The presiding justice, Justice Mojisola Dada convicted Ayi on 11 charges bordering on fraudulent false accounting to the tune of N700million, an offence contrary to Section 335(a) of the Criminal Law of Lagos State of Nigeria, 2011 and deferred sentencing till March 22.


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