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Chief Executive Officer of Suru Homes Limited, Edward Akinlade, was, on Thursday, arraigned before an Ikeja Special Offences Court for allegedly selling his company’s property which he used as collateral for a Fidelity Bank loan.
Chief Executive Officer of Suru Homes Limited, Edward Akinlade. [citypeopleonline]
Chief Executive Officer of Suru Homes Limited, Edward Akinlade. [citypeopleonline]
The News Agency of Nigeria (NAN) reports that Akinlade and his company were arraigned on a 10-count charge of stealing and issuance of dud cheques.
The Economic and Financial Crimes Commission (EFCC) preferred the charges bordering on attempted fraud against the defendants who, however, plead not guilty.
According to EFCC Prosecutor, Mr Temitope Banjo, Akinlade committed the offences sometime in 2017 in Lagos.
“The defendant, with intent to defraud, converted the property, situated at No. 11A, Lawson Adeyemi St., Ikoyi, Lagos, by selling it without the knowledge of the bank and diverting the proceeds of the sale.
“The property was part of a legal mortgage he had used as part of collateral to secure a loan of N1.7 billion from Fidelity Bank Plc,” the prosecutor said.
Banjo said that on Sept. 8, 2017, the defendant issued nine separate dud Guarantee Trust Bank (GTB) cheques of N10 million each to Fidelity Bank Plc.
“When the cheques were presented for payment, they were dishonoured on the grounds that no sufficient funds were standing in the credit of the account,” he said.
According to the prosecutor, the offences violate Sections 1(1)(a)(b) and 2 of the Dishonoured Cheques Offences Act, 2004 and Section 284 of the Criminal Law of Lagos State, 2011.
After the arraignment, the Defence Counsel, Mr Lawal Pedro (SAN), said that he only became aware of the charges against Akinlade on Aug. 5.
In response, Pedro said that he had filed a bail application and had just served a copy of the application to EFCC.
Responding, the EFCC prosecutor acknowledged receipt of the bail application and told the court that he needed some time to respond to it.
“My lord, the charges have been filed since 2020 and it was impossible and very difficult to get the defendant arrested until yesterday.
“The Bank Fraud Section of the EFCC had, on several occasions, put calls across to the defendant to no avail.
“He jumped administrative bail and he is being investigated by four sections of the EFCC,” Banjo said.
Justice Oluwatoyin Taiwo, in a ruling, granted Akinlade bail in the sum of N30 million, with two sureties in like sum.
“One surety shall be a legal practitioner and the second shall be a close relative of the defendant.
“The sureties shall swear to affidavits of means and their home and office addresses shall be verified by the court,” she said.
The case was, thereafter, adjourned till Oct. 11, for trial.

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Zenith Bank Refunds N3.23m To Angry Customer Chiamaka Agim



A leading Nigerian commercial bank, Zenith Bank has returned N3.23 million to Chiamaka Agim, a Lagos State resident whose N4.039 million was erroneously deducted on January 9.


According to reports, Zenith Bank had previously informed Agim that she would only receive N800,500 of the N4,039,900 that had been debited.


But on Monday, January 16, in the evening, the bank sent back N3,239,400.


Recently, the Zenith Bank client shared a post about the refund on her Twitter page.



Agim reported that on that Monday, the bank contacted her to provide an update on the refunded money.


“After the event, they had to put my account on pause, so I didn’t get any alerts,” the user said. I was told to visit the bank the next day,” she recalled.


“They had credited my account with N3,239,400 around 7.30 pm on Monday,” the customer said. “My account statement was printed when I got to the bank.”


She claimed to have discovered that Access, one of the two banks to which the funds were transferred, still held the remaining N800,500.


Zenith Bank stated that Access Bank is now withholding the funds and that it is not their fault at this time. They said Access Bank stated that the funds would not be released without a court order.

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UBA Appoints Abiola Bawuah CEO,UBA Africa



The Board of Directors of the United Bank for Africa Plc has announced the appointment of Mrs. Abiola Bawuah, as Chief Executive Officer (CEO) of UBA Africa.


According to a statement y the bank, Bawuah will also join the Group Board as an Executive Director, overseeing the Group’s operations across the African continent, outside Nigeria.


Bawuah, a Ghanaian national, is the first female CEO of UBA Africa.


Prior to her appointment, she was Regional CEO, West Africa, supervising the Group’s operations in nine subsidiaries, including Benin, Burkina Faso, Cote d’Ivoire, Ghana, Guinea, Liberia, Mali, Senegal, and Sierra Leone. She previously held the role of CEO, UBA Ghana.


Speaking on the new appointment, the Group Board Chairman, Mr Tony O. Elumelu, said, “Abiola has contributed significantly to the growth of UBA Africa for close to a decade. She brings a wealth of experience in commercial banking, and stakeholder engagement. It also gives me great pleasure that with her appointment, the UBA Group Board has now become a majority female board.”


The UBA Group also announced other appointments.


Chris Ofikulu was appointed the Regional CEO of UBA West Africa.


A statement by the bank said Ofikulu has over two decades of banking experience spanning corporate, commercial, and retail banking.


Similarly, Uzoechina Molokwu was appointed as Deputy Managing Director (DMD) of UBA Ghana, subject to local regulatory approvals. He was previously the Executive Director, Business Development – UBA Côte d’Ivoire and has over 23 years banking experience.


Ayokunle Olajubu was also announced as the Managing Director/CEO UBA Liberia, subject to local regulatory approvals. He currently drives compliance across Africa subsidiaries and comes with 30 years banking experience in Nigeria and other African countries, including Sierra Leone, Cote D’Ivoire and the Gambia.


Other appointments include that of Theresa Henshaw who was appointed as CEO of UBA UK, subject to local regulatory approvals. She was previously the DMD, Business Development, UBA America and joined the Group as ED, Business Development at UBA UK.


Usman Isiaka, currently CEO, UBA Sierra Leone, has also been appointed the Deputy CEO in UBA America, subject to local regulatory approvals.


Adeyemi Adeleke, the former CEO of UBA, UK is now the Group Treasurer. Adeleke will be working to unlock the immense value in the Group’s multi-jurisdictional balance sheet, leveraging on its presence in 24 countries within and beyond Africa.


In addition to the executive appointments, UBA has announced the retirement of High Chief Samuel Oni, an independent non-executive Director, from the board following the expiration of his tenure. He joined the UBA Group in January 2015 and served on the Board of the Group for eight years.


The Group Chairman, Mr Elumelu, expressed his appreciation to High Chief Oni, for his commitment, leadership and extensive contributions to the UBA Group and on behalf of the Board, wishes him the very best in all his future endeavours.

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