Ex-JAMB Staff Allegedly Dupes Bank N10m

Olayiwola Oguntade Ex-JAMB Staff

By Modupe Gbadeyanka

A former employee of the Joint Admissions and Matriculation Board (JAMB), Mr Olayiwola Oguntade, has been accused of duping a bank in Oyo State.

Mr Oguntade was arraigned at the Oyo State High Court in Ibadan, on Tuesday, October 13, 2020, on a three-count charge bordering on obtaining money by false pretence, forgery and altering.

The Economic and Financial Crimes Commission (EFCC), which brought the suspect before Justice Bayo Taiwo yesterday, alleged that he defrauded the PolyIbadan Microfinance Bank of N10 million.

Mr Oguntade, who worked at the Finance and Account department of JAMB’s head office in Abuja, had the EFCC questioning him after it received a petition from the lender against one Kola Al-amin, a businessman.

The bank had accused the businessman of refusal to pay up a N10 million loan he obtained to finance a project he was to execute for JAMB.

However, investigations into the allegations revealed that it was Mr Oguntade who allegedly tricked Mr Al-amin into obtaining the loan through a fathom contract.

According to findings, Mr Oguntade contracted the businessman sometimes in 2019 to supply internet services to the JAMB office in Abuja, issuing a Local Purchase Order (LPO) and a letter of Domiciliation purportedly from JAMB to back up the ‘contract’.

Brandishing the ‘contract documents’ with the confidence that they were genuine, Mr Al-amin approached the bank for the credit facility and was granted.

But rather than allow him to use the money to execute the project, Mr Oguntade allegedly cajoled Mr Al-amin into paying the N10 million into a certain account, which, according to him, belonged to the company that would execute the project. He made the payment as directed.

He, however, realised that he had been duped after waiting in vain for the completion of the project and payment of his money by JAMB to allow him to liquidate the loan.

His failure to repay the loan prompted the PolyIbadan Microfinance Bank to petition the EFCC, leading to the discovery of Mr Oguntade’s alleged fraudulent acts.

The EFCC accused the suspect of forging the LPO and the Letter of Domiciliation bearing a fake signature of JAMB’s Registrar and Director of Finance. It was also discovered that the account he directed Mr Al-amin to pay into was his.

In one of the charges against him, the EFCC said, “That you, Olayiwola Oguntade sometimes in 2010 at Ibadan within the jurisdiction of this court, with intent to defraud obtained the sum of N10 million by false pretence through Kola Al-Amin from PolyIbadan Microfinance Bank Ltd. and thereby committed an offence.”

But the accused pleaded not guilty to all charges, which prompted the prosecution counsel, Mr Mabur Mabas, to ask the court for a trial date.

However, the defence lawyer, Mr Bamidele Salawu, moved for the bail of the accused, which Justice Taiwo granted in the sum of N1 million with two sureties in like sum.

The judge, who adjourned the case to November 5 for trial, noted that one of the sureties must have a landed property and both should identify themselves with valid identity cards to be verified by the EFCC.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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