By Ngozi Onyeakusi–The Police in Osun on Friday arraigned one Sarah Peter, 28, before an Ile-Ife Magistrates’ Court for allegedly stealing N4 million from Stanbic bank.

The Prosecutor, Insp Elijah Adesina, told the court that the defendant committed the offence sometimes in November, 2020 at Stanbic Bank IBTC Plc, Lagere, Ile-Ife.

Adesina said that the defendant conspired with others now at large to commit felony to wit: Stealing.

He added that the defendant stole the sum of N4,057,500 from Stanbic Account No: 9201548033 of late Bolade Ilori, but represented by Olayinka Kayode and transfered the whole money into her Bank Account No: 0019423581, named Sarah Peter.

According to him, the offence contravened Sections 383, 390(9) and 516 A of the Criminal Code, Laws of Osun, 2002.

The defendant, however, pleaded not guilty to the two-count charge of conspiracy and stealing.

The Defence Counsel, Mr Keji Adegoke, applied for the bail of the defendant in most Liberal term, with a pledge that his client would not jump bail, but provide reliable sureties.

Magistrate B.O. Adediwura granted the bail of the defendant in the sum of N1 million with two sureties in like sum.

Adediwura added that the sureties must swear to affidavit of means and resident within the court jurisdiction.

She stated further that the sureties’ addresses must be verified by the prosecutor, present three years tax clearance as well as produce three years tax clearance certificate.

The case was adjourned until Aug. 27 for hearing.