Two employees of a Lagos-based company, who allegedly swindling a bank in United Kingdom (UK) of $1.2 million   were on Friday arraigned in Lagos.

The accused, Oladapo Oyeniyi, 48, and Kunle Ayotoye, 45, whose addresses were not disclosed in court, are facing a three-count charge of conspiracy, stealing and fraud before an Igbosere Magistrates’ Court.

The prosecutor, Insp. Amedu Adoga, told the court that the accused committed the offences between December 2012 and January 2013, at No. 3, Oje Imsisnvan St., Oregun, Ikeja, Lagos.

He said the accused and some others still at large conspired and issued an instruction to Habib Bank domiciled in UK to transfer $1.2 million to 12 different beneficiaries.

Adoga said that the duo issued the instruction to the bank in the guise that it was their employer, one Mr Chris Ejike that issued the instruction.

He said that the accused issued the instruction with the intention that it be acted upon as genuine.

“The bank believed that the instruction emanated from their employer and carried it out without further verification,” he said.

He alleged that the accused stole the said money.

The prosecutor said that the offences contravened Sections 285 (8), 361 and 409 of the Criminal Law of Lagos State, 2011.

The accused, however, pleaded not guilty to the charges.

The counsel to the accused, Mr Bode Omoboriowo, urged the court to grant his client bail on liberal terms.

The magistrate, Mrs A. O. Awogboro,  granted the accused bail in the sum of N5 million bail each with two sureties each in like sum.

She said the sureties must show evidence of tax payment to the Lagos State Government.

Awogboro said the sureties must have landed property and should be blood relations of the accused.

She adjourned the case till Feb. 15 for mention.