Late MKO Abiola’s Wife, Doyin Abiola Arrested and Arraigned For N26m Fraud



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Former Director of the defunct Integrated Microfinance Bank, Dr. Doyin Abiola has been arraigned before the Federal High Court, Lagos, for fraud.
Dr. Abiola, of 42/46 Moshood Abiola Crescent, Ikeja, Lagos, and wife of the late Chief Moshood Abiola, is one of four Directors of Integrated Microfinance Bank (IMFB) located at 6A Adeniyi Jones Avenue, Ikeja, who were arrested and charged by the SFU.
The others are Akinteye Simon Ademola, Dr. Jerry Orimovuohoma and Oladapo Bello.
The SFU said the four officials of IMFB granted unauthorized credit facilities to the tune of N327,566,000 to themselves and other related companies without collateral and that the loans are still outstanding.  In the forensic investigation conducted by Financial Malpractices Invstigation Unit (FMIU) of SFU, the Directors were found wanting in the discharge of their duties while on the Board of Integrated Microfinance Bank (IMFB).
Dr Doyin Abiola of  42/46 Moshood Abiola Crescent, Ikeja, Lagos granted to herself without collateral and approval from the Board, the sum of N26, 611,246.48.
Akinteye Ademola (MD/CEO) of Plot 7, block 90, Mobolaji Ogunde Crescent, Magodo GRA Phase 2, Lagos converted the sum of N131.176,000 to his personal use without approval.
Dr Orimovuohoma of 129B Oba Ladejobi Street, GRA, Ikeja granted unauthorized credit facility to the tune of N29,200,000.00 to himself without collateral.
Dr Oladapo Bello of 23/25 Ijora Causeway, Ijora, Lagos recklessly granted the sum of N3,200,000.00 to himself without collateral.
“The bank liquidity was greatly affected with the sum the directors took,” the statement said. The case comes up at the Federal High Court on December 10.


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