Two Keystone Bank Employees Granted N20m Bail in N35m Fraud Case

Two Keystone Bank employees are granted N20m bail over N35m fraud allegations. Court trial set for November. Learn more about the case.

Two employees of Keystone Bank Limited, Ebele Okpala and Perpetua Onyeto, have been granted N20 million bail each by the Federal High Court in Lagos for allegedly stealing N35 million from a customer's account. 

The suspects were arraigned on August 30, 2024, facing multiple charges including conspiracy, stealing, money laundering, and obtaining money under false pretenses. 

Prosecutor CSP Eliot Ejie revealed that the duo, who worked at the Anambra branch of Keystone Bank, unlawfully lifted a lien on a customer’s account and transferred the funds to Okpala's personal account. 

The charges against them violate several laws, including the Advance Fee Fraud and Other Related Offences Act of 2006, the Criminal Code Act LFN 2004, and the Money Laundering (Prevention and Prohibition) Act of 2022.

Both defendants pleaded not guilty. Despite strong opposition from the prosecution, Justice Deinde Dipeolu granted them bail, each in the sum of N10 million with two sureties. 

The court has scheduled the trial to begin on November 6, 2024.

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