Home Business Fraud Ex-banker To Spend Three Years’ In Prison For N8bn Fraud
Fraud

Ex-banker To Spend Three Years’ In Prison For N8bn Fraud

Share
Share

BY GABRIEL MICHEAL—A former banker, Samuel Asiegbu, has been sentenced to three years’ imprisonment without an option of fine for his role in an ₦8.56 billion fraud involving one of Nigeria’s first-generation banks.

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday,  convicted and sentenced him.

Asiegbu was arraigned alongside several other defendants on a four-count charge bordering on conspiracy, stealing, and unauthorized access to a computer system with intent to commit fraud, contrary to Sections 409 and 386 of the Criminal Law of Lagos State, 2011.

The defendants were first arraigned on June 23, 2025, and all initially pleaded not guilty. However, Asiegbu later changed his plea to guilty, prompting the court to convict and sentence him accordingly. The trial of the remaining defendants will continue.

Justice Oshodi sentenced Asiegbu to 10 months and 8 days’ imprisonment on count three and 1 year and 8 months on count four, both without an option of fine. The sentences are to run concurrently. Consequently, the court struck out counts one and two.

The court adjourned the case to November 14, 2025, for further proceedings against the remaining defendants.

Share
Related Articles

EFCC Arrests Football Agent for Alleged N11m Fraud

Operatives of  the Benin Zonal Directorate of the Economic and Financial Crimes...

Nigerian National Pleads Guilty to $5m Illegal Money Transfer Scheme

BY SUNDAY SAMUEL—–Nigerian national, Ifeanyi Emmanuel Ugwu, 49, has admitted guilt to...

Company Representative Arrested in N993 Million Foreign Exchange Fraud

The Ilorin Zonal Directorate of the EFCC has arrested a company representative,...

Lagos Court Sentences Businessman, Firm to 30 Years for $62,500 and €36,020 Fraud

A Lagos State High Court in Ikeja has sentenced businessman Olumuyiwa Teniola...