Polaris Bank Limited, led by Kayode Lawal, is currently embroiled in allegations of a N16.5 billion fraud. The Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, has taken over the prosecution of the bank and a staff member, Chinenye Duru, for allegedly diverting N16.5 billion belonging to a bank customer.
The case, initially filed by the office of the Inspector General of Police in December 2023, accuses Polaris Bank and Mr. Duru of fraudulently diverting over N16.5 billion from a customer’s various accounts over nearly eight years.
The alleged victim, Onukogu Victor Hezekiah, is the spiritual head of the Living Christ Mission Church in Onitsha, Anambra State, and is affectionately known as Daddy Hezkiah by his followers.
According to the prosecution, the funds were diverted from Mr. Hezekiah’s accounts between 2017 and 2023, during which time Mr. Duru served as his account officer.
A lawyer from the AGF’s office, V.J. Alma, informed the trial judge, Inyang Ekwo of the Federal High Court in Abuja, that Mr. Fagbemi exercised his constitutional powers under Section 174(1)(b) to take over the case from the police.
Alma stated that a letter had been sent to the police requesting the original case file, and the AGF’s office was awaiting its receipt.
Judge Ekwo inquired if the AGF’s office had formally notified the court of the development, to which Alma confirmed. Alma then requested the court to schedule the trial for a date after the upcoming judicial vacation.
The judge advised Mr. Duru’s lawyer, Chidi Ezenwafor, to ensure that Polaris Bank, the primary defendant, secures legal representation.
The case was adjourned for trial on November 18 and 19. The News Agency of Nigeria (NAN) reports that Mr. Duru was arraigned on January 19 on 11 counts and pleaded not guilty. He remains in a correctional facility pending his bail hearing.
Polaris Bank and Mr. Duru face charges of fraudulently withdrawing N16.5 billion from Mr. Hezekiah’s accounts numbered 1040495455 and 1060104735 between November 17, 2017, and August 14, 2023. Additional allegations include unauthorized withdrawals of N75.534 million, N13.3 million, and N16.3 million from Mr. Hezekiah’s other accounts within the same period, with the intent of converting the funds for personal use.
The charges were brought under sections 18 (2) and 21 (a) of the Money Laundering (Prevention and Prohibition) Act, 2022, with certain offences punishable under section 18(3) of the same act.
(NAN)
