Detectives from the Force Criminal Investigation Department (FCID) Annex in Alagbon-Ikoyi, Lagos, Nigeria have uncovered an alleged fraud involving four employees of Richway Microfinance Bank Limited, who are accused of creating fake customer email addresses to siphon over N182 million from client accounts.
The suspects — Ikeoluwa Imuraina, Peter Olabanji, Ngozi Nwokoma and Olubunmi Ayeni — were arraigned before the Federal High Court of Nigeria in Lagos over the alleged N182.3 million fraud.
According to investigators, the alleged offences occurred between January and December 2025 at the bank’s office located at Plot 27, Admiralty Way in Lekki Phase 1, Lagos, Nigeria.
The defendants were charged with conspiracy, obtaining by false pretence, unlawful transfer of funds and cybercrime-related impersonation before Justice Alexander Owoeye.
Prosecutor Morufu Animashaun told the court that the accused allegedly conspired with other suspects who are still at large to defraud account holders linked to Sanusi Hostel 1 and Sanusi Hostel 2.
The prosecution alleged that the defendants transferred a total of N182,302,151.75 from customers’ accounts into several bank accounts belonging to different individuals.
According to the prosecutor, the suspects allegedly compromised the bank’s internal system and created a fake email address — sunnatbello@hotmail.com — designed to closely resemble the legitimate address sunatbello@hotmail.com.
The fake email account was allegedly used to authorise fraudulent transactions and move funds without the knowledge or consent of the account holders.
The prosecution said the alleged offences violated provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, the Criminal Code Act of Nigeria, and the Cybercrimes (Prohibition, Prevention, etc.) Act 2015.
However, the defendants pleaded not guilty to the charges.
Following their pleas, the prosecution requested a trial date and urged the court to remand the defendants pending trial.
Although defence counsel made an oral application for bail, the prosecution objected on the grounds that no formal bail motion had been filed.
Justice Owoeye subsequently granted each defendant bail in the sum of N10 million with two sureties in like sum.
The court ordered that the sureties must reside within the court’s jurisdiction and provide evidence of three years’ tax payment.
The judge also directed the defendants to submit their National Identification Numbers, Bank Verification Numbers and two passport photographs to the court.
Additionally, the defendants were barred from travelling outside Lagos State without court approval.
The case was adjourned until June 24, 2026, for trial, while the defendants were remanded at the FCID facility in Alagbon-Ikoyi pending the perfection of their bail conditions.