Banking Fraud: GTB Staff Faces Criminal Charges

Komolafe Oluwayomi, a 45 years old staff of Guaranty Trust Bank (GTBank) is facing legal action as his employer accuses him of orchestrating a fraudulent scheme to siphon N9,989,000 from the bank. The case has been brought before a Lagos Magistrate’s court.

The alarming incident came to light when GTBank’s management reported the theft to the Divisional Police Officer at Bar Beach division, Victoria Island, Lagos. Following a thorough investigation led by Inspector Patience Eguabor, Oluwayomi was apprehended and charged with conspiracy and stealing.

According to the prosecution, led by Police Counsel Ben Ekundayo, Oluwayomi exploited his position as the officer in charge of processing drivers’ retirement benefits. He allegedly manipulated the payroll system, adding his friend’s name and account number to the list of beneficiaries. He then transferred N9,989,000 into his friend’s account, subsequently moving the funds into his own GTBank account for personal use.

The fraudulent activity was uncovered during an internal audit of the retirement payroll accounts. The charges against Oluwayomi fall under sections 411 and 287(7) of the Criminal Law of Lagos State, 2015, which address conspiracy and theft by an employee.

Despite pleading not guilty, Magistrate M.A. Owunmi granted Oluwayomi bail set at N2 million, requiring two sureties of the same amount. Until the bail conditions are met, Oluwayomi will remain in custody at the Ikoyi correctional facility. The case has been adjourned to June 11, 2024.