A 29-year-old loan officer with First City Monument Bank (FCMB) Microfinance, Ayomide Lamidi, has been arrested and arraigned before the Ogudu Magistrates’ Court in Lagos for allegedly stealing ₦11.6 million from the bank.

Prosecutor Inspector Sunday Bassey told the court that the offence was committed between January and July 2025 at the bank’s Ikorodu Road branch in Ketu. According to him, an internal audit revealed that Lamidi diverted clients’ deposits and loan repayments for personal use instead of remitting them to the bank.

The branch manager, Yetunde Ogundare, and the bank’s auditor, Adesola Adebowale, reported the matter to the police after discovering the fraud. Bassey added that the defendant confessed during interrogation.

The alleged offence contravenes Section 287(7) of the Lagos State Criminal Law of 2015.

Magistrate O.A. Daodu granted Lamidi bail in the sum of ₦700,000 with two sureties in like sum. The case was adjourned until October 7, 2025, for further hearing.

 

Source: Truthng