EFCC press release: Court jails ex-banker 115years for N8.9m scam
115 years for N8.9m fraud? Choi. Well, thankfully it will run concurrently. See the EFCC press release below…
A Lagos High court sitting in Igbosere, presided over by Justice
Adebisi Akinlade on Monday February 17, 2014 sentenced Jamiu Seun
Odunayo (pictured above), a former banker, to One Hundred and Fifteen Years (115)
imprisonment with no option of fine over an offense which borders on
fraud, stealing, and obtaining money by false pretense.
The convict was arraigned by the Economic and Financial Crimes
Commission, EFCC on 39-count amended charge for fraudulently obtaining
money by false pretences, stealing and suppression of funds to the tune
of Eight Million Eight Hundred and Twenty Nine Thousand, Six Hundred and
Fifty Naira, (N8, 829,650) belonging to a customer and diverted it for
One of the counts reads: “Seun Jamiu Odunayo sometime on the 7th day
of March 2011 in Lagos within the Ikeja Judicial Division whilst being a
staff of Skye Bank Plc stole N848,690.00 (Eight Hundred and Forty Eight
Thousand, Six Hundred and Ninety Naira) property of Skye Bank Plc”.
The convict had earlier pleaded not guilty to the 39-count charge
that was preferred against him but later changed his plea following a
However Justice Akinlade, in her ruling on Monday, sentenced the
defendant to one Hundred and Fifteen Years imprisonment, (115) – three
years on each of the 39 -count charge. They are to run concurrently. The
sentence is to start from the date of his arrest.
The journey to prison began on May 19, 2011, when the commission
received a petition from a bank, alleging that one of its staff who was a
Cash Pick up Officer to one of its customers, did not credit the
customer’s account. The customer alerted the bank, when she discovered
that the sum of Eight Million Eight Hundred and Twenty Nine Thousand Six
Hundred and Fifty Naira, N8, 829,650 was not credited into her account.
The convict consequently absconded from his duty post to evade arrest.
However, Odunayo in his statement stated that, he started stealing
from the customer’s account in November 2010, due to delay in payment of
his salary. He started with N50, 000 (Fifty Thousand Naira) and later
increased it till it reached the sum of N848, 690.00.
The convicts confessed that he used part of the money for his
wedding; built a 4-bedroom bungalow in Mowe, Ogun state; bought a car,
and used the rest for clubbing.