The Special Offences Court sitting in Ikeja, Lagos State, has remanded Polaris Bank ex-staff, Abiodun Maccarthy, for allegedly engaging in N423 million fraud while working for the financial institution.
Maccarthy, who was arraigned on a four-count charge bordering on stealing and forgery by the Economic and Financial Crimes Commission (EFCC) before Justice Mojisola Dada, was said to have contravened Section 278 and 361 (1) of the Criminal Law of Lagos State 2011 while serving in Polaris Bank.
The financial expert was remanded after his offences were read to him in the language that he understood, and pleaded not guilty to the charge.
Given his plea on Thursday, the prosecution counsel, B. M. Isah, asked the court for a trial date and also prayed the court to order the remand of the defendant in a Correctional Centre.
Consequently. Justice Dada adjourned the case till October 22, 2025 and also ordered the remand of the defendant in a Correctional Centre.
Earlier, the count reads: “ABIODUN MACCARTHY, sometime in 2018 at Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the sum of N423, 000, 000 which forms part of N650,000.000 paid to you by Great Endurance Bureau De Change for fixed deposit investment with Polaris bank, while you were in their employ”.
Count two reads : “ABIODUN MACCARTHY, sometime in 2018 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, forged a Polaris Bank Plc fixed deposit investment certificate with slip no. 332540 and issued same to Great Endurance Bureau De Change as evidence of investment”.
