In a significant legal development, two employees of Keystone Bank, Ebele Okpala and Perpetua Onyeto, have been granted bail by the Federal High Court in Lagos after being charged with the alleged embezzlement of N35 million. The two bankers, who were arrested following a police investigation, are facing multiple charges, including conspiracy, theft, and money laundering, all connected to a fraudulent transfer of funds.
The accusations stem from an incident in July 2023, where Okpala and Onyeto, who were employed at the bank’s Anambra State branch, allegedly manipulated a lien on a customer’s account to facilitate the unauthorized transfer of funds into Okpala’s personal account. The prosecution, led by Chief Superintendent of Police Eliot Ejie, has argued that the actions of the defendants violate several provisions of Nigeria’s criminal code, including the Advance Fee Fraud Act and the Money Laundering Prevention Act.
Despite the seriousness of the charges, both defendants have entered pleas of not guilty. During the hearing, their defense counsel successfully argued for bail, which the judge, Justice Deinde Dipeolu, granted in the amount of N10 million for each defendant. The court also imposed strict bail conditions, requiring that one of the sureties be a property owner within the court’s jurisdiction and the other a high-ranking government officer.
The case has been adjourned until November 6, 2024, for the commencement of the trial, where the full extent of the allegations will be examined. The outcome of this case will be closely watched, given the gravity of the charges and the potential implications for banking practices in Nigeria.
This legal battle not only highlights the ongoing issues of financial fraud within the banking sector but also serves as a reminder of the judiciary’s role in addressing such cases with the seriousness they deserve.
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