A 29-year-old loan officer with FCMB Microfinance Bank, Ayomide Lamidi, has been arraigned before an Ogudu Magistrates’ Court in Lagos for allegedly stealing N11.6 million belonging to his employer.
The prosecutor, Insp. Sunday Bassey, told the court that the alleged fraud was committed between January and July 2025 at the bank’s Ketu branch along Ikorodu Road.
According to Bassey, an internal audit revealed that Lamidi diverted customers’ loan repayments and deposits for personal use rather than remitting them into the bank’s account.
The bank’s auditor, Mr. Adesola Adebowale, and branch manager, Mrs. Yetunde Ogundare, reported the matter to the police after discovering the fraud. During interrogation, the defendant allegedly confessed to the act.
The prosecutor said the offence contravened Section 287(7) of the Criminal Law of Lagos State, 2015.
Magistrate O.A. Daodu granted Lamidi bail in the sum of N700,000 with two sureties in like sum and adjourned the case until October 7, 2025, for further hearing.
