Nigeria’s Ex- Bank MD To Be Arraigned October 25 Over Alleged Fraud

<h4>Nigeria’s Ex- Bank MD To Be Arraigned October 25 Over Alleged Fraud<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that a federal high court sitting in Lagos south west Nigeria&comma; on Tuesday&comma; while adjourning till 20th 0ctober&comma;2022 for the re- arraignment of the former Managing Director of Mortgages PHB LTD Bayo Adewakun alleged to have recklessly granted loan to B&period; Waks consultants company without adequate security&comma; ordered that hearing notice should be issued&period;<br &sol;>&NewLine;When the matter was mentioned&comma;the defendant was not present in court&comma; consequently Principal State counsel from the Department of prosecution of the Attorney General&&num;8217&semi;s office&comma; Barrister Ndidi G&period; Ukoha urged the court to issue hearing notice&period;The presiding Judge&comma; Abimbola Awogboro acceded to his request&period;<br &sol;>&NewLine;The accused <a href&equals;"https&colon;&sol;&sol;www&period;thisdaylive&period;com&sol;">former Mortgages managing Director Bayo Adewakun<&sol;a> was initially arraigned before Justice Saliu Saidu who has retired&period;<br &sol;>&NewLine;In a four count amended charge filed before the court by Ukoha&comma; it was alleged that Bayo Adewakun granted loan in the sum of N33&comma;632&comma;667&period;17 without adequate security<br &sol;>&NewLine;The loan was alleged to have been granted to partly finance the completion of a housing development at Victoria Garden City for outright sale without adequate security&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;