First Bank Woman Bags 98 Years for Stealing Employer’s N49M, $368,000 …Court Gives More Punishment

Matilda Omonaiye/

A staff of First Bank of Nigeria Limited, Oreoluwa Adesakin, has been sentenced to 98 years in prison for stealing.

Apart from the jail term, the convict is also to return all she stole to First Bank, through the Economic and Financial Crimes Commission (EFCC).

Justice Muniru Olagunju of the Oyo State High Court found Adesakin guilty of stealing from First Bank N49,320,652.32 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 EFCC, on a 14-count charge, bordering on stealing, forgery and fraudulent accounting.

One of the charges says: “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, a property of First bank PLC.”

She pleaded not guilty to all the charges, which necessitated her trial.

Prosecution counsel, Usman Murtala in arguing his case, presented every vital document and witnesses which nailed the convict.

The judge noted that the EFCC amassed 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 will run concurrently.

The convict was arraigned 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 $368,203.00 for herself, which the bank only uncovered while reviewing its internal account.

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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