Union Bank Staff Jailed For Stealing Customer’s N116m

The Economic and Financial Crimes Commission, EFCC has secured the conviction of Temitope Oluwasanmi, a Union Bank staff who was jailed for conniving to divert N116 million from the account of a customer with the bank.

Oluwasanmi was jailed alongside his collaborator, Augustine Olayinka by Justice Mojisola Dada of a Special Offences Court, Lagos State High Court, Ikeja on Friday.

The convicts were arraigned in December 2017 on a six-count charge bordering on conspiracy, stealing and fraudulent diversion of funds to the tune of N116million (One Hundred and Sixteen Million Naira) to which they pleaded “not guilty” prompting commencement of trial.

Oluwasanmi, an employee of Union Bank of Nigeria (UBN) Plc, was arrested by operatives of the EFCC in October 2017, following a petition from the bank. In the petition, the bank alleged that he diverted the N116million to the accounts of three friends: Augustine Olayinka, Oginni Opeyemi, and Ogbaro Oluwaseyi. Opeyemi and Oluwaseyi have remained at large.

In the course of the trial, prosecuting counsel, Bilikisu Bala Buhari, called three witnesses and tendered several documents to prove the case against them.

Delivering judgement Friday, March 5, 2021, Justice Dada found the first and second defendants guilty of count one bordering on conspiracy, and sentenced them to three years imprisonment. The Union Bank staff was further convicted of counts two, three, and four and jailed 10 years imprisonment.

He was also found guilty of count six bordering on retention of criminal proceeds and sentenced to three years imprisonment, while the second defendant was found guilty of count five bordering on fraudulent false accounting and sentenced to seven years imprisonment.

The sentences are to run concurrently.

The case is bound to raise concern among the banking public on how a single individual could have instigated the transfer of such amount of money without authorisation.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG