Woman bags 98 years in jail for stealing N49m, $368,000 from bank

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A former employee of First Bank of Nigeria, Mrs. Oreoluwa Adesakin, on Monday, bagged a cumulative 98 years in prison at the Oyo State High Court for fraud. She was sentenced by Justice Muniru Olagunju.

Adesakin was found to have committed financial fraud against her employers to the tune of N49,320,652 and additional $368,203 belonging to the bank, which she converted to her personal use.

The convict was prosecuted by the Ibadan Zonal Office of the Economic and Financial Crimes Commission (EFCC) on a 14-count charge bordering on stealing, forgery and fraudulent accounting.

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

Adesakin pleaded not guilty to all the charges, which necessitated her trial. Prosecution counsel, Usman Murtala, in arguing his case, presented documents and witnesses that nailed the convict.

The judge noted that the EFCC gathered a pool of incontrovertible evidence against the convict and did a diligent investigation and prosecution. He pronounced Adesakin guilty of all the charges, sentencing her to seven years in prison without an option of fine on each of the 14 counts, which would run concurrently.

Apart from the jail term, the convict is also to restitute to First Bank, through the EFCC, all the money she stole.

The convict was arraigned on April 4, 2014 by the EFCC following a conclusion of investigations against her, which arose from a petition from her former employer, dated December 18, 2013.

The bank alleged in the petition 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 the total sums of N49,320,652.32 and another $368,203 for herself, which the bank only uncovered while reviewing its internal accounts.

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

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