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Negligent Union Bank staffer to appear in court

28 February 2014, 15:43Henry Ifeanyi

Lagos - The case against a former Union Bank staff, Paul Onwughalu, accused of negligence in a N450 million theft perpetrated in the bank by hackers has been set for March 27.

The Economic and Financial Crimes Commission (EFCC) has arraigned the suspect at the Lagos High Court in Ikeja.

The EFCC alleged that Onwughalu failed to conduct due diligence in a mega scam that rocked the bank on January 10 last year.

Some fraudsters hacked into its data base and stole N450 million.

The accused allegedly failed to conduct due diligence on Dan Kawu Bureau De Change’s account domiciled in Union Bank,  before confirming and authorizing the payment of N450 million to the company.

The accused however pleaded not guilty to the charge and applied for bail before commencement of trial.

EFCC lawyer, Fadeke Giwa, however expressed opposition insisting that the court should exercise caution in granting the bail application.

He said other suspects in the case were still at large and that releasing the suspect might jeopardize the case.

The EFCC Lawyer adopted his written address in opposition to the bail.

Justice Ogunsanya however reserved ruling on the application to March 27.

– CAJ News

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