The Economic and Financial Crimes Commission (EFCC) has re-arraigned five defendants before the Federal High Court in Kaduna over an alleged scheme to manipulate a Polaris Bank application and inflate a customer’s account balance from ₦781,000 to approximately ₦466 million.
The alleged manipulation involved a difference of about ₦465.219 million between the original balance and the inflated figure, although the available court record does not establish that the amount was withdrawn or that the bank suffered a confirmed loss of that sum.
The defendants are Bashir Abdullahi Mohammed, Oche Ogenyi, Adefila Taofile Kayode, Rabiu Aliko Lawal and Mmadu Matthew Onyekachi. They pleaded not guilty to an amended three-count charge in the case, which is being heard by Justice Z. B. Abubakar.
The court granted each defendant bail of ₦10 million, with two sureties in like sum, according to a case update dated October 6, 2026.
Under the reported conditions, the sureties must be public servants on Grade Level 12 or above and own landed property within Kaduna metropolis. Their certificates of occupancy are subject to verification by the court.
The prosecution is being handled by J. Saidi, while a Senior Advocate of Nigeria, M. K. Aondoakaa, is listed as defence counsel.
The case dates back to March 19, 2019, when the defendants were first arraigned, according to the case-tracking database. The latest update indicates that the prosecution remains ongoing.
The alleged incident is also the subject of a separate proceeding before the Kaduna State High Court, presided over by Justice M. M. Tukur Aliyu.
Proceedings in the state court reportedly stalled on September 30, 2026, following the absence of the fourth defendant, Rabiu Aliko Lawal, and his counsel, who were attending the related Federal High Court matter.
The two cases have separate records and charge descriptions. The Federal High Court matter involves an amended three-count charge categorised as money laundering, while the state court record describes a two-count charge bordering on conspiracy and stealing.
The allegations have yet to be established in court.
