The Financial and Monetary Crimes Fee,EFCC, has arraigned two officials of FSDH Service provider Bank Restricted over an alleged fraud involving $306,667.81 and €50,250.

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This was disclosed in a press release posted on the official web page of the Fee.

Within the assertion, the defendants, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, have been on Tuesday, March 3, 2026, introduced earlier than Justice Ismaila Ijelu of the Lagos State Excessive Courtroom sitting in Ikeja.

In accordance with the EFCC, the defendants have been arraigned on a 10-count cost bordering on alleged stealing and retention of stolen property belonging to FSDH Service provider Bank Restricted.

The anti-graft company acknowledged that, “the petitioner, FSDH Service provider Bank Restricted, alleged that an inside audit uncovered unauthorized debits totaling $306,667.81 and €50,250, equal to N527,406,916.66 5 hundred and twenty-seven Million, 4 hundred and 6 thousand, 9 hundred and sixteen naira, sixty six kobo.”

Investigations, the Fee mentioned, confirmed that the transfers have been allegedly processed by way of the SWIFT platform to 3rd events.

One of many costs learn in court docket alleged that the defendants “dishonestly took the sum of N527,406,916.66, property of FSDH Service provider Bank Restricted.”

The defendants pleaded not responsible to all the fees; following their plea, prosecution counsel, H. U. Kofarnaisa, requested the court docket for a trial date and requested that the defendants be remanded in a correctional facility pending trial.

Counsel to the defendants, Oluwaseun Akintunde and Olajide S. Onasanya, knowledgeable the court docket that bail purposes had been filed and urged the court docket to grant bail on liberal phrases.

The assertion additional famous that after listening to each events, Justice Ijelu granted every defendant bail within the sum of N2 million with two sureties in like sum.

The court docket directed that one surety have to be a gainfully employed relative and should present proof of tax fee for the final three years alongside proof of livelihood.

The defendants have been ordered to deposit their worldwide passports with the court docket and have been barred from travelling exterior the nation with out the court docket’s permission.

They have been subsequently remanded in a correctional facility pending the perfection of their bail situations.

The matter was adjourned until March 25, 2026, for the graduation of trial.