Realtor docked over alleged conversion of N4.7m mistakenly credited to his bank account

A 41-year-old Realtor, Abayomi Olayinka, on Friday, appeared before a Yaba Chief Magistrates’ Court in Lagos, charged with allegedly stealing N4.7million mistakenly credited into his account by his bank.

Olayinka, a resident of Abule-Ojo, Alagbole area of Lagos, however, pleaded not guilty to the charge of stealing.

The Prosecutor, Sgt. Modupe Olaluwoye, told the court that the defendant committed the offence sometime in February 2018 in Lagos.

According to her, a system malfunction of Sterling Bank’s applications mistakenly credited the defendant with N10 million but immediately debited him N5.3 million, leaving a balance of N4.7 million.

Olaluwoye said that, instead of the defendant reporting the error to the bank, he went on a spending spree with the money five days after the credit mistake.

She said that the defendant used some part of the money to buy a Toyota Matrix car, some clothes and paid his Wife’s hospital bill with some other outstanding bills.

The prosecutor said that the offence contravened Section 287 of the Criminal Laws of Lagos State, 2015 (Revised).

The News Agency of Nigeria (NAN) reports that Section 287 stipulates three years imprisonment for the offence of stealing.

The Chief Magistrate, Mrs Oluwatoyin Oghere, admitted the defendant to bail in the sum of N3 million with two sureties in like sum.

She further directed that the sureties must be resident within the court’s jurisdiction and be gainfully employed with evidence of three years’ tax payment to Lagos State Government.

Oghere adjourned the case until March 31, for mention.