The Federal High Court sitting in Port Harcourt, the Rivers State capital, has remanded a banker and former official of First City Monument Bank (FCMB), Fasiku Olusegun Rapheal, in a correctional centre for alleged stealing and currency counterfeiting to the tune of N23.5 million.
The former FCMB official was arrested by the operatives of the Economic and Financial Crimes Commission (EFCC) after the anti-graft agency received a petition against him for allegedly stealing N23.5 million meant for fixed deposit which he converted.
He was however arraigned by the Port Harcourt Zonal Command of the EFCC on Monday, March 27, 2023, on a 6-count charge.
One of the counts read: “That you, Fasiku Olusegun Raphael on or about the 11th of June, 2021, at Port Harcourt, Rivers State within the jurisdiction of this Honourable Court whilst you were staff of First City Monument Bank Plc stole the sum of Ten Million, Forty, Thousand Naira (N10, 040, 000, 00) only property of Esther Imade Ehire and thereby committed an Offence punishable under Section 390 of the Criminal Code Act, Cap. C38 of the Revised Edition (Laws of the Federation of Nigeria) 2004 read together with Section 1 (1) (b) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Bank Act Cap B3 of the Revised Edition (Laws of the Federation of Nigeria) 2004.”
Another count read: “That you, Fasiku Olusegun Raphael on or about the 13th of December, 2021, at Port Harcourt, Rivers State within the jurisdiction of this Honourable Court, whilst you were staff of First City Monument Bank Plc stole the sum of Eight Million Naira (N8, 000, 000, 00) only property of Okoye Peter Ikechukwu’ and thereby committed an Offence punishable under Section 390 of the Criminal Code Act, Cap. C38 of the Revised Edition (Laws of the Federation of Nigeria) 2004 read together with Section 1(1) (b) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Bank Act Cap. B3 of the Revised Edition (Laws of the Federation of Nigeria) 2004.”
The defendant, however, pleaded “not guilty” to all the charges.
In view of his plea, the prosecution counsel, E. K. Bakam asked for a date for the commencement of trial and prayed that the defendant be remanded.
The defence counsel, V. U. Uzorchukwu, did not oppose the prayers by the prosecution.
The presiding judge, Justice P. I. Ajoku, therefore, ordered that the defendant be remanded in the custody of the prosecution and adjourned the matter till July 13, 2023, for commencement of trial.
