Photo: Late MKO Abiola's wife Dr Doyin Abiola reportedly arrested for fraud

According to a report by Sahara Reporters, one of late MKO
Abiola's wife, and former MD of the defunct Concord
Newspapers, Dr. Doyin Abiola has been arraigned before the
Federal High Court, Lagos, for fraud.
A statement signed by Police Public Relations Officer
DSP Ngozi Isintume-Agu said that the Financial
Malpractices Investigation Unit (FMIU) of Special Fraud
Unit (SFU) said that between 2006 and 2008, as a
Director of the Integrated Microfinance Bank, Dr. Abiola
granted to herself without collateral and approval from the
Management, the sum of N26,611,246.48.
Dr. Abiola, of 42/46 Moshood Abiola Crescent, Ikeja,
Lagos, and wife of the late Chief Moshood Abiola, is one
of four Managing Directors or 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 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 FMIU
of SFU, the Directors were found wanting in the discharge of
their duties while on the Board of Integrated Microfinance
Bank (IMFB).
· Ademola of Plot 7, block 90, Mobolaji Ogunde Crescent,
Magodo GRA Phase 2, Lagos converted the sum of N131.176
million to his personal use without approval.
· Orimovuohoma of 129B Oba Ladejobi Street, GRA, Ikeja
granted unauthorized credit facility to the tune of
N29,200,000.00 to himself without collateral.
· 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.

Via: Sahara Reporters