N240m Fraud: Supreme Court Affirms Conviction, 42-yr Jail Term Of Ex-Akwa Ibom Senator Bassey

The Supreme Court of Nigeria, on Friday, February 27, 2026, affirmed the decision of the trial Court and Court of Appeal that convicted and sentenced Senator Albert Bassey to seven-year imprisonment and the restitution of the sum of N204m to Akwa Ibom State Government.

The decision of the five-man panelist of the apex court delivered by Justice Stephen Jonah Adah, having reviewed the appeal of the appellant, came to the conclusion that the decision of the Court of Appeal was affirmed but the order of restitution which the High court made but ignored by the Court of Appeal was restored.

“The order of this court is that the conviction and sentencing imposed by the lower court on the 23 day of June 2023 on the appellant is hereby affirmed but the order of the lower court avoiding the order of restitution given by the trial court did not follow the law, so it is revised and the right order is to nullify same and thereby the restitution of sum of N204 million made by the trial court is restored,” he said.

Bassey’s journey to the prison started following his prosecution by the Economic and Financial Crimes Commission (EFCC), led by prosecution counsel, Ekele Iheanacho, SAN, before Justice Agatha Okeke of the Federal High Court in Uyo, Akwa Ibom State for receiving bribes of 12 cars worth N254 million when he was serving as Commissioner for Finance in Akwa Ibom State.

He was convicted on all the seven-count charges against him and sentenced to seven years in prison for each charge, totalling 42 years on Thursday, December 1, 2022.

However, the defendant proceeded to the appellate court to which the three-man panel led by Justice Rapheal Chikwe Agbo upheld the conviction but with an option of fine before the apex court struck out the judgement in parts on Friday. He will spend only seven years in prison as he will serve the jail term concurrently.