Four employees of Grooming Microfinance Bank: Kazeem Oyelade, 32; Sulaiman Amuda, 39; Rotimi Adebusola, 37; and Odunayo Fashola, 33, were on Friday remanded by an Ilorin Magistrate Court for theft of N3.8 million from the bank.

The accused persons are standing trial on a three-count charge of criminal conspiracy, criminal breach of trust and stealing.

The police prosecutor, Sgt. Mathew Ologbonsaye, told the court that the alleged fraud was uncovered during an auditing of the bank’s accounts on September 2, 2013.

He said that police investigations revealed that Oyelade, who was the branch manager, conspired with three credit officers to steal the money from the bank located in Ilorin.

The accused persons pleaded not guilty to the charges. They filed a bail application but the prosecutor objected to it on the grounds that investigation was in progress.

The Magistrate, Adeniyi Oluwatosin, ordered that the accused be remanded to Okekura Prison, Ilorin, and adjourned the case to October 2, 2013, for hearing.