Four employees of Richway Microfinance Bank Limited were on Tuesday arraigned before the Federal High Court in Lagos over an alleged N182.3 million fraud.
The defendants, Ikeoluwa Imuraina, Peter Olabanji, Ngozi Nwokoma, and Olubunmi Ayeni, appeared before Justice Alexander Owoeye on charges of conspiracy, obtaining by false pretence, unlawful transfer of funds, and cybercrime-related impersonation. They were arraigned by the Force Criminal Investigation Department Annex, Alagbon-Ikoyi.
Prosecutor Morufu Animashaun alleged that between January and December 2025, the defendants conspired to transfer N182,302,151.75 from the accounts of Sanusi Hostel 1 and Sanusi Hostel 2 into various accounts. They were also accused of creating a fake email address resembling a legitimate one to facilitate the fraud.
The defendants pleaded not guilty.
Justice Owoeye granted each defendant bail in the sum of N10 million with two sureties in like sum, requiring proof of three years’ tax payment and restricting travel outside Lagos without court approval. They were ordered remanded at the Force CID pending the perfection of bail conditions.
The case was adjourned to June 24, 2026, for trial.
