Court Jails Man 18 Months For Defrauding Bank Of N30m In Lagos

Justice O.A. Fadipe of the Lagos State High Court sitting in Ikeja Lagos has convicted and sentenced one Adebisi Ridwan Ayodeji to 18-month imprisonment for defrauding Sterling Bank of the sum of N30,000,000.

The convict was initially arraigned by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, Lagos, on a one-count charge of stealing to the tune of N30,000,000 before Justice Oluwatoyin Taiwo.

He was subsequently re-arraigned before Justice Fadipe, and the trial commenced de novo on March 3, 2023.

The charge read: “Adebisi Ridwan Ayodeji, on or about the 15 day of September, 2021, in Lagos within the jurisdiction of this Honourable court, fraudulently converted to your own use the sum of N30,000,000.00 Thirty Million Naira) ,property of Sterling Bank Plc.”

He pleaded “not guilty” to the charge when it was read to him, thereby leading to his full trial.

In the course of the trial, the prosecution counsel, S.I. Suleiman, presented three witnesses and tendered several documents that were admitted in evidence against the defendant.

Delivering judgement on Tuesday, February 24, 2026, Justice Fadipe sentenced the defendant to 18 months imprisonment on the one-count charge of stealing.

The judge also ordered the convict to make restitution in the sum of N23,677,107.05, being the outstanding balance, to the petitioner in addition to the custodial sentence.