Court Jails Female Banker 98 Years For Stealing N49m, $368,000

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By; BAYO AKAMO, Ibadan


A former staff of First Bank of Nigeria Limited, Oreoluwa Adesakin was on Monday jailed for 98 years over N49.3 million  and 368.2 US dollars  fraud by an Oyo State High Court sitting in Ibadan.
Oreoluwa Adesakin was arraigned by the Ibadan zonal office of the Economic and Financial Crimes Commission (EFCC) for financial fraud against her employers to the tune of N49,320,652.32,  and additional $368,203.00.
She was arraigned before Justice Muniru Olagunju on 14-count charges, bordering on stealing, forgery and fraudulent accounting.
In the charge, EFCC stated  “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 (Twenty Five Million, Nine Hundred and Seventy Four Thousand, One Hundred and Sixteen Naira, Thirteen Kobo) from First Bank PLC MoneyGram Payment Naira Account, property of First bank PLC.”
The former banker pleaded not guilty to all the charges, which necessitated her trial. 
Prosecution counsel, Barrister Usman Murtala while arguing his case, presented every vital document and witnesses to prove his case.
Justice Olagunju in his judgement stated that the EFCC amassed a pool of incontrovertible evidence against the convict and did a diligent investigation and prosecution.
The judge 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, adding that aside the jail term, Adesakin is also to restitute the First Bank, through the EFCC, all the money she stole.

It will be recalled that Olaoluwa Adesakin 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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