Four Microfinance Bank Workers Charged with N182.3m Fraud

Four employees of Richwai Microfinance Bank Limited—Ikeoluwa Imuraina, Peter Olabanji, Ngozi Nwokoma, and Olubunmi Ayeni—were arraigned on Tuesday at the Federal High Court in Lagos for allegedly committing fraud amounting to N182.3 million. The arraignment was presided over by Justice Alex Owoey, with the prosecution led by Morufu Animashaun.

The defendants face four counts, including conspiracy, obtaining by false pretenses, unlawful transfer of funds, and cybercrime related to impersonation. The alleged offenses occurred between January and December 2025 at the bank's Lagos office located at Plot 27, Admiralty, Lekki Phase 1.

The prosecution claims the defendants conspired to defraud account holders by transferring a total of N182,302,151.75 to various accounts belonging to different individuals using compromised bank systems and fake email addresses. The defendants pleaded not guilty, and the court set bail at N10 million with two sureties.

The case was adjourned to June 24, 2026.