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N30m fraud: FCMB denies out-of-court settlement

The First City Monument Bank Plc on Monday at a Federal High Court, Lagos, denied making any efforts towards an out-of-court settlement of a N30m fraud charges instituted against it and one of its former branch managers,  Rosemary Usifo.

FCMB’s lawyer, Mr. Lanre Ogunlesi (SAN), told the court, presided over by Justice Saliu Saidu, that the bank had never consented to settling the matter out of court.

Ogunlesi, who claimed that the prosecuting counsel, Mr. Effiong Asuquo, misrepresented the bank’s position to the court at the previous proceedings, urged the court to fix a date for the trial.

The judge subsequently adjourned the case till April 7.

The accused were arraigned by the Special Fraud Unit of the Nigeria Police on December 5, 2013.

Usifo was alleged to have fraudulently obtained N30m from a fixed deposit account of a customer, who is a retired Deputy Inspector General of Police, Archibong Nkanga.

She was alleged to have committed the offence in 2011 while she was the Okearin branch manager of the Finbank Plc, which later merged with the FCMB.

She had pleaded not guilty to the fraud charges.

The judge had ordered her to be remanded at the Kirikiri Prisons, pending her bail application.

The alleged offence is said to contravene the provisions of sections 1(2) (a), (c), and sections 3 (1) (2) of the Miscellanous Offences Act, Cap. M17, Laws of the Federation of Nigeria, 2004.

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