Court sentences ex-First Bank staff 98 years jail term for stealing N49.3m, $368,000

A former staff of First Bank, Oreoluwa Adesakin, has been sentenced to 98 years jail term by Justice Muniru Olagunju of the Oyo State High Court.

The ex-bank staff was found to have committed fraud against her employers to the tune of N49,320,652, and additional $368,203.

The Ibadan Zonal Office of the Economic and Financial Crimes Commission (EFCC), prosecuted the convict on 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 from First Bank Plc MoneyGram Payment Naira Account.”

She pleaded not guilty to all the charges.

Prosecution counsel, Usman Murtala, presented vital documents and witnesses which nailed the convict.

Justice Olagunju pronounced Adesakin guilty of all the charges.

The judge sentenced her to seven years in prison without an option of fine on each of the 14 counts, which will run concurrently.

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The convict is also to restitute the First Bank, through the EFCC, all the money she stole.

She was arraigned on April 4, 2014, by the EFCC following investigation on First Bank petition dated December 18, 2013.

The bank said Adesakin, a Money Transfer Operator, saddled with the responsibility of effecting payments through Western Union Money Transfer and Money Gram platforms, manipulated accounting and withdrew a total of N49,320,652 and another $368,203 for herself.

EFCC spokesman, Wilson Uwujaren, said operatives established that the convict used part of the proceeds to acquire landed properties in different parts of Oyo State.

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