Former Polaris Bank Manager, Abiodun Sanni, Remanded Over Alleged N15 Million Fraud

Former Polaris Bank Manager, Abiodun Sanni, Remanded Over Alleged N15 Million Fraud




Lagos State court has remanded Mr. Abiodun Sanni, a former manager at Polaris Bank, for allegedly being involved in a N15 million fraud. The case is being handled by Justice Abike-Fadipe of the Special Offences Court in Ikeja.


The Economic and Financial Crimes Commission (EFCC) charged Sanni with 16 offences, including stealing, forgery, using false documents, and obtaining credit under false pretences.


According to the EFCC, in February 2020, Sanni allegedly approved a loan of N17 million for a business under false claims. He reportedly used a fixed deposit account belonging to Yinkus Multibiz Ventures as collateral without the owner’s consent.


In another allegation, he is accused of illegally converting a fixed deposit account worth N15 million belonging to someone else for his own benefit.


Sanni pleaded not guilty to all charges. The prosecutor, Mr. Adewunmi, asked the court to remand him, saying they plan to call 10 witnesses during the trial.


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The defence lawyer, Mr. Osho Oludoshu, applied for bail on Sanni’s behalf. Justice Abike-Fadipe stated that the bail application must be submitted before the next hearing.


The judge has set the trial dates for March 6 and March 19, 2025. Until his bail is approved, Sanni will remain in a correctional centre.


The EFCC will present its witnesses during the trial, where more details will be revealed about the alleged fraud.


Stay updated for more information on this case.


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