Police arraign school’s accounts for alleged N5m theft

The Special Fraud Unit (SFU) of the Police on Monday arraigned two staff of Saint Saviour’s Schools, Ikoyi, Lagos, at the Federal High Court in Lagos for allegedly defrauding the school of N5.3 million.

Olawale Azeez, the school’s Finance Clerk, and Rasheed Lanlehin, an Assistant Facilities Manager, were arraigned before Justice Abdullazeez Anka.

The SFU said they conspired with the school’s Finance Manager, Oladimeji Akinola and Finance Officer Michael Adegbola, both of whom were said to be at large, to fraudulently convert the money by forging the school’s accounting records which they sent to its bankers – First Bank Plc and Stanbic IBTC Plc.

The offence, which they allegedly committed between September 2008 and last May, is contrary to section 15(1) (a) (ii) of the Money Laundering (Prohibition) Act, 2011, as amended.

In an earlier charge, which was later amended, the police alleged that Akinola and Adegbola allegedly defrauded the school of N114. 5 million.

Azeez and Lanlehin pleaded not guilty to the charge.

Justice Abdulazeez Anka adjourned hearing of their bail applications till Tuesday.