Metro & Crime Top Stories

Banker jailed 98 years for stealing N49m, $368,000

Justice Muniru Olagunju of the Oyo State High Court has sentenced a former official of First Bank of Nigeria, Oreoluwa Adesakin, to a cumulative 98 years jail for stealing N49 million, and $368,000.

The convict committed the offence while in charge of effecting payments through Western Union Money Transfer and MoneyGram platforms. Adesakin, was arraigned 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. She was found to have committed financial fraud against First Bank to the tune of N49,320,652.32 and additional $368,203.00 belonging to the bank which she converted to her personal use. The EFCC spokesman, Wilson Uwujaren, said yesterday that the convict was arraigned on April 4, 2014, following a conclusion of investigations against her which arose from a petition from her former employer (First Bank), dated December 18, 2013.

He said: “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 MoneyGram 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.” Uwujaren added that the commission 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.

One of the charges reads: “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, property of First bank PLC.” She pleaded not guilty to all the charges, which necessitated her trial.

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