Sanni, who has now been relieved of his job, was said to have committed the fraud while serving at the Ikeja regional office of the bank.
Sanni along with others, were brought before Justice Deborah Oluwayemi on an eight-count charge of fraudulent conversion by stealing and other sundry offences by the Economic and Financial Crimes Commission (EFCC).
Others docked alongside Sanni are Oyebode Atoyebi and a company linked with him, Sidaw Ventures Limited.
The three accused persons were said to have conspired to perpetrate the fraud.
Counsel to Sanni, M.O Atanda, said he was under the instruction to announce appearance for only the first accused (Sanni) and not the third (Sidaw Venturtes) because there was no link between them.
But Counsel to EFCC, Oyedepo Rotimi, faulted the claim, saying it was just a mere ploy to frustrate the arraignment.
After entertaining all the submissions, Justice Oluwayemi said that it would be neater for the preliminary issues to be resolved, and fixed December 21, 2012 for arraignment.
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