The Special Fraud Unit of Nigeria Police, yesterday, arraigned two staff of Saint Saviour’s Schools, Alexander Avenue, Ikoyi, Lagos, before a Federal High Court sitting in Lagos, over alleged N5. 330 million fraud.

The accused are Olawale Azeez, the school’s Finance Clerk, and Rasheed Lanlehin, an Assistant Facilities Manager.

They were alleged to have, in collaboration with one Oladimeji Akinola and Michael Adegbola, who were the school’s Finance Manager and Finance Officer, respectively, now at large, on or about September 2008 to May 2015, fraudulently converted N5.330 million, by falsifying and forging the school’s accounting records, which they sent to the school’s bankers, First Bank Plc, and Stanbic IBTC. The offence according to the prosecutor, Mr. Effiong Asuquo, is contrary Section 15(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011, as amended.

In the earlier charge filed before the court by the prosecutor, Asuquo, alleged that the two principal suspects, Akinola and Adegbola, while working at the school as Finance Manager and Finance Officer, had between the stated period perpetrated a fraud of N114. 5 million.

The trial of the four accused persons, which was slated for last week, was however, stalled due to the absence of the two principal suspects in the alleged fraud.

The accused persons, however, pleaded not guilty to the charges However, lawyers to the accused persons led by U. Okorosi, informed the court that they had filed bail applications, and same served on the prosecution.

He urged the court to hear the bail applications.

The presiding judge, Justice AbdulAziz Anka, ordered the remand of accused persons in Prison’s custody and adjourned the hearing of their bail applications till tomorrow.