Ex-Microfinance bank staff jailed for stealing N11m





An Oyo state High Court sitting in Ibadan Friday sentenced a former employee of the Ayete Microfinance Bank Limited in Oyo state, Sunday Fadayomi to six years in prison without an option of fine for stealing N11,000,000 (Eleven Million Naira) from the bank’s vault while working there.


Delivering his judgment, Justice Mohammed Owolabi 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.


According to EFCC, Fadayomi is an information system expert in charge of the bank’s information technology section 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.


EFCC arraigned Fadayomi  on the 30-count charge on May 17, 2018 after affirming the allegations against him and he subsequently 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.
Justice Owolabi also ordered that Fadayomi restitutes N11,000,000 to the bank.

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