Two Keystone Bank staff granted bail in alleged N35m fraud scheme

Justice Deinde Dipeolu of the Federal High Court in Lagos on Monday granted N20 million bail to two Keystone Bank Limited employees, Ebele Okpala and Perpetua Onyeto, who are accused of fraudulently obtaining N35 million.

The bail was granted after the defendants’ counsel presented their bail application to the court. Okpala and Onyeto were arraigned on Friday, August 30, 2024, by the Police Special Fraud Unit in Lagos on charges of fraud.

The two defendants are facing five counts, including conspiracy, stealing, money laundering, and obtaining by false pretence, brought against them by the police.

Chief Superintendent of Police Eliot Ejie, the prosecution counsel, informed the court that the offences occurred in July 2023. He alleged that Okpala, in collusion with Onyeto, who worked at the bank’s Anambra State branch, fraudulently lifted a lien on a customer’s account and transferred the funds to her own Keystone Bank account.

According to the prosecutor, the defendants’ actions violated Sections 1(1)(c) of the Advance Fee Fraud and Other Related Offences Act, 2006, and are punishable under Section 1(3) of the same Act. Their conduct also contravened Sections 516 and 383(1) of the Criminal Code Act LFN 2004, as well as Sections 21(a) and 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, with penalties under Section 18(3) of the same Act.

The defendants pleaded not guilty to the charges. After hearing arguments from both sides regarding the bail application, Justice Dipeolu granted each defendant bail in the sum of N10 million, with two sureties each. One of the sureties must own property within the court’s jurisdiction, while the other must be a Grade Level 16 officer in a Lagos or Federal Government establishment.

The case was adjourned until November 6, 2024, for trial.