N8bn Fraud: Courtroom sentences banker to 1 yr’s imprisonment

The choose Rahman Oshodi delivered the judgement on Wednesday after the banker modified his plea from not responsible to responsible.

The Lagos State Particular Offences Courtroom in Ikeja has sentenced a banker, Samuel Asiegbu, to 1 yr’s imprisonment with out an possibility of positive for his function in an alleged N8.56 billion fraud.

In an announcement launched on Wednesday, the Financial and Monetary Crimes Fee (EFCC), the prosecuting company, revealed that the fraud occurred at a first-generation financial institution, whose identify was not disclosed.

The choose Rahman Oshodi delivered the judgement on Wednesday after Mr Asiegbu modified his plea from not responsible to responsible.

Mr Asiegbu was arraigned alongside different defendants on 4 counts of conspiracy, stealing, and unauthorised entry to a pc system with intent to commit fraud, opposite to Sections 409 and 386 of the Prison Regulation of Lagos State, 2011.

He was first arraigned on 23 June, when all of the defendants pleaded not responsible.

He later opted to alter his plea, prompting the court docket to convict and sentence him accordingly.

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Mr Oshodi sentenced Mr Asiegbu to 10 months and eight days’ imprisonment on depend three and one yr and eight months on depend 4—each with out an possibility of positive. The court docket subsequently struck out counts one and two.

The sentences are to run concurrently, which implies the convict will spend one yr in jail, being the longer jail time imposed by the choose.

The matter was adjourned until 14 November for the continuation of the trial in opposition to the remaining defendants.

The sentencing on the Lagos State Particular Offences Courtroom pertains to a separate cost from the one beforehand filed on the Federal Excessive Courtroom, the place Mr Asiegbu and others are additionally going through trial over alleged involvement within the N8.56 billion fraud scheme.

The EFCC had earlier arraigned three bankers and 4 alleged accomplices earlier than the Federal Excessive Courtroom in Lagos over their alleged involvement in an N8.56 billion fraud scheme.

The bankers – Mr Asiegbu, Fabian Onyeimachi, and Kingsley Ejim Kelechi – have been charged alongside Hannah Okunlola Adesokan, Hamza Zakariya, Achionu Ubaku, and Sunday Osademe on eight counts of conspiracy and acquiring cash underneath false pretence.

The fee alleged that the defendants manipulated the financial institution’s inner techniques and altered important banking knowledge in January 2025, inflicting a lack of N8,568,090,500.

They have been additionally accused of conspiring with others nonetheless at giant to hold out the fraudulent transactions for their very own profit, opposite to Part 27(1)(a) of the Cybercrimes (Prohibition, Prevention, and so forth.) Act, 2015.

All of the defendants pleaded not responsible.

Following their plea, EFCC lawyer Aso Peters requested a trial date and requested the court docket to remand them within the custody of the Nigerian Correctional Service (NCoS).