27 C
Lagos
Saturday, January 16, 2021
- Advertisement -

Ex First Bank Employee Jailed Over Massive Theft

Opinion

2020: A Year Like no Other By Dakuku Peterside

The year 2020 was supposed to be a great year. It was another Leap Year – the famed Olympic Games year when...

The Time to Restructure is Now – Bola Tinubu

Being with you at this special event today, I am visited by two competing emotions. I continue to feel a profound sense...

Africa and the COVID-19 Vaccine – By Dakuku Peterside

The year 2020 will forever be synonymous with Covid-19, a pandemic that brought the world to her knees. For the first time...

Buhari is Repressing Human Rights and Getting Away With It – By Kolawole Olaniyan

President Muhammadu Buhari is failing to live up to his promises to ensure respect for human rights, obey the rule of law,...

An Oyo State High Court has handed down a ninety-eight year sentence to Oreoluwa Adesakin, a former employee of Nigeria’s First Bank of Nigeria Limited.

Justice Muniru Olagunju read the sentence after he found Ms Adesakin guilty of defrauding First Bank to the tune of N49,320,652.32 and an additional $368,203.00.

She had been charged before the court by the Ibadan Zonal Office of the Economic and Financial Crimes Commission (EFCC) on a 14-count charges bordering on stealing, forgery, and fraudulent accounting.

One of the charges read: “That you Oreoluwa Adesakin sometime between the months of May 2013 and November 2013, at Ibadan within the Ibadan Judicial Division, whilst being a staff of First Bank PLC stole the sum of N25,974,116.13 from First Bank PLC MoneyGram Payment Naira Account, the property of First Bank PLC.”

She had pleaded not guilty to all the charges.

Prosecution counsel, Usman Murtala, presented vital documents and witnesses to prove the Commission’s case.

In his judgement, Justice Olagunju noted that the EFCC provided a pool of incontrovertible evidence against the convict and conducted a diligent investigation.

He pronounced Ms Adesakin guilty of all the charges and thereafter sentenced her to seven years in prison without an option of fine on each of the 14 counts.

The sentences will run concurrently.

Apart from the jail term, the judge ordered that Adesakin should refund to the First Bank, through the EFCC, all the money she stole.

According to EFCC Head of Media and Publicity, Mr. Wilson Uwujaren, who disclosed this, the convict was arraigned on April 4, 2014, by the EFCC after investigations against were concluded.

Her arrest and trial followed a petition against her by her former employer, dated December 18, 2013.

In the petition, the bank alleged that Adesakin, as its Money Transfer Operator, saddled with the responsibility of effecting payments through Western Union Money Transfer and Money Gram platforms, fraudulently manipulated accounting and withdrew N49,320,652.32 and another $368,203.00 for herself, which the bank only uncovered while reviewing its internal account.

Uwujaren, stated that the EFCC was able to establish that the convict used part of the proceeds of her crime to acquire landed properties in different parts of Oyo State.

- Advertisement -
- Advertisement -

Business Profiles

Ngozi Edozien

Ngozi Edozien is the founder and Managing Director of Invivo Partners Limited. She has over 20 years’ experience in finance/private equity, general...

Sanyade Okoli

Sanyade Okoli is Chief Executive Officer at Alpha African Advisory. She has over 21 years of financial advisory, private equity, corporate, commercial...

Samuel Nwanze

Samuel Nwanze is a director of Transcorp Power. He holds an MSc. degree in Finance and Management from Cranfield University in the...

Olukemi Adeniji

Ms Adeniji has a law degree and a Masters in International Law and Diplomacy (M.I.L.D) from the University of Lagos. She has...

Chikezie Nwosu

Chikezie Nwosu is an experienced senior executive with over 29 years local and international experience in the oil & gas industry vis-a-viz...