N 230,000 Theft: Stanbic IBTC Financial Analyst in Court for Allegedly Stealing Bank’s Money

Ifeanyi Otuesieme, 32-year-old Financial Analyst at Stanbic IBTC on Monday appeared before a Tinubu Magistrates’ Court in Lagos State for allegedly stealing N 230,000 from his employer.Stanbi-IBTC-BANK BUilding

News Agency Of Nigeria (NAN) reports that Otuesieme is facing a charge of stealing to which he pleaded not guilty.

The Prosecutor, Insp. Ajaga Agboko, told the court that the defendant committed the offence in December 2019 at a bank on Victoria Island, Lagos.

Agboko said that the defendant, whose job description was to compute commissions paid to the bank’s direct sales agents, inflated the commissions by N230,000.


The Prosecutor said that the offence contravened Section 287 (7) of the Criminal Law of Lagos State, 2015.

The section stipulates seven years imprisonment for stealing from one’s employer.

The Magistrate, Mr T.A. Anjorin-Ajos, granted the defendant bail in the sum of N200,000 with two sureties in like sum.

Anjorin-Ajose adjourned the case until Jan. 15 for mention.