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

N33.8bn Power Fraud: EFCC Arrests Fleeing Ex-Power Minister, Saleh Mamman in Kaduna

The Economic and Financial Crimes Commission, EFCC, has arrested a fleeing former...

EFCC Probes Two Suspects Intercepted with Undeclared $461,600 at Kano Airport

BY SUNDAY SAMUEL—The Economic and Financial Crimes Commission (EFCC), Kano Zonal Directorate,...

Maiduguri Power Project Fraud: EFCC Secures Final Forfeiture of Private Jet Linked to NNPCL Contract Scam

BY SUNDAY SAMUEL—The Economic and Financial Crimes Commission, EFCC, on Monday, May...

Anti-Graft War: EFCC Returns Recovered ₦837m Loot to Katsina Government

BY SUNDAY SAMUEL—The Economic and Financial Crimes Commission (EFCC), Kano Zonal Directorate,...