FHC Dismisses ₦144 Million Fraud Charges Against Providus Bank Manager
The Federal High Court in Lagos has dismissed fraud charges amounting to ₦144 million against Mrs. Mariam Isoje, the branch head of Providus Bank Plc.
The decision came after the police prosecutor, Mr. Henry Obazi, filed a notice of withdrawal, which was unopposed by the defence counsel, Mr. Mobolaji Kuti.
Delivering the ruling, Justice Yellim Bogoro stated:
“Consequent upon the notice of withdrawal filed by the prosecution and non-objection by the defence counsel, I hereby strike out the charge. The matter is accordingly dismissed.”
Isoje and a bureau de change (BDC) operator, Ibrahim Abdulmumin, were accused of conspiracy, obtaining money under false pretences, concealing proceeds of unlawful activities, and fraud totalling ₦144 million.
The prosecution alleged that the defendants conspired to defraud victims by promising to exchange ₦144 million for at a rate of ₦570,000 per . Additionally, Isoje was accused of concealing proceeds of unlawful activities amounting to ₦60.48 million, allegedly derived from Abdulmumin.
The charges were brought under sections 8(a) and 1(1)(3) of the Advance Fee Fraud and Other Related Offences Act of 2006, and sections 18(2)(b) and 20(a)(b) of the Money Laundering (Prohibition) Act of 2022.
While the BDC operator had entered a plea, Isoje had not yet appeared in court. With the prosecution withdrawing its case, all allegations against the Providus Bank manager have been cleared.
The dismissal brings an end to the legal proceedings against Isoje, leaving the status of the case against her co-accused unclear.
