FCMB Microfinance loan officer Ayomide Lamidi has been arraigned in Lagos for allegedly stealing N11.6 million from customer repayments. Bail set at N700,000.

FCMB Microfinance staff, Ayomide Lamidi, a 29-year-old loan officer, has been arraigned before the Ogudu Magistrates’ Court in Lagos for allegedly embezzling N11.6 million belonging to his employer.

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According to SOCIETY REPORTERS, Lamidi worked with FCMB Microfinance Bank, a subsidiary of First City Monument Bank (FCMB), which focuses on providing financial services to low-income earners, small businesses, and underserved communities across Nigeria.

The prosecutor, Inspector Sunday Bassey, told the court that the defendant committed the offence between January and July 2025 at the bank’s Ikorodu Road, Ketu branch.

“The internal audit revealed that the defendant diverted customers’ loan repayments and deposits into his personal use without remitting them to the bank’s account,” Bassey stated.

The alleged fraud was uncovered during an audit carried out by the bank’s internal auditor, Adesola Adebowale, and the branch manager, Yetunde Ogundare, who then reported the matter to the police.

The prosecutor further revealed that during interrogation, Lamidi confessed to the act.

The charge falls under Section 287(7) of the Criminal Law of Lagos State, 2015, which deals with offences committed by clerks or servants against their employers.

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Magistrate O.A. Daodu granted the defendant bail in the sum of N700,000 with two sureties in like sum. She adjourned the case to October 7, 2025, for further hearing.