Home News Ex-Banker Jailed Six Years, To Restitute N11m To Former Employer

Ex-Banker Jailed Six Years, To Restitute N11m To Former Employer


A former employee of the Ayete Microfinance Bank Limited in Oyo State, Sunday Fadayomi, was on Friday, November 29, 2019, sentenced to six years in prison without an option of fine for stealing a total of sum of N11,000,000 (Eleven Million Naira) from the bank’s vault while working there.

The presiding Justice Mohammed Owolabi of the Oyo State High Court pronounced Fadayomi guilty in all the 30 counts of a criminal charge filed against him by the Economic and Financial Crimes Commission, EFCC, Ibadan zonal office.

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The convict is an information system expert in charge of the bank’s information technology section, the position he held for about 10 years before his criminal exploits were blown open.

The bank, in a petition dated April 17, 2018. had accused him of sundry criminal activities including posting money to customers’ accounts without tellers, posting cash deposit at weekend when the bank was not opened for operation, accessing loans without intention to pay and using proxy accounts to commit fraud, among others.

After firming up its series of investigations into the allegations, the EFCC arraigned him on the 30-count charge on May 17, 2018.

Fadayomi, however, pleaded not-guilty to all the charges which border on stealing and contrary to Section 390 (6)(9) Criminal Code of Cap 38, Vol. 2 Laws of Oyo State, 2000.

His plea led to a full trial which came to a halt on Friday. The EFCC was represented in the case by Ifeanyi Agwu and Oyelakin Oyediran.

After considering arguments by the prosecution and defence lawyers, Justice Owolabi held that the EFCC lawyers convinced the court that that accused indeed committed the offence with which he was charged.

He found him guilty in all the 30 charges and sentenced him to six years imprisonment without an option of fine.

He also ordered that the convict restitutes a sum of N11,000,000 to the bank.

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