Court Convicts Two Ex-Bank Staff Over ₦7.8m Financial Fraud

Court Convicts Two Ex-Bank Staff Over ₦7.8m Financial Fraud

The Kaduna Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has secured the conviction and sentencing of two former bank officials over separate financial fraud cases involving about ₦7.8 million.

The convicts, Obadofin Daniel Bamise and Hadiza Oyiza Yakubu, were sentenced to seven years imprisonment each by Justice A.A. Bello of the Kaduna State High Court sitting in Kaduna after they were found guilty on separate one-count charges bordering on fraud.

The EFCC disclosed this in a statement, noting that the convictions followed investigations and prosecution efforts by its Kaduna Zonal Directorate, which uncovered acts of banking fraud involving the handling and diversion of funds.

According to the anti-graft agency, the offences committed by the former bank employees involved fraudulent activities linked to their official duties in the financial institution, leading to losses estimated at about ₦7.8 million.

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Although full details of the transactions were not publicly disclosed, the EFCC said the court was satisfied that the prosecution had established a strong case beyond reasonable doubt against the defendants.

The court subsequently convicted both defendants on separate counts and handed down seven-year prison sentences each.

Delivering judgment, Justice A.A. Bello held that the prosecution had successfully proven its case, leading to the conviction under applicable laws on financial crimes and fraud in Nigeria.

The ruling reinforces judicial support for the EFCC’s ongoing anti-corruption drive, particularly in cases involving abuse of office, breach of trust, and financial misconduct within banks.

The EFCC stated that the conviction is part of its wider efforts to tackle financial crimes in the banking sector, especially insider fraud involving diversion of customer funds and manipulation of internal banking systems.

The commission reiterated its commitment to ensuring accountability in financial institutions, warning that individuals involved in fraudulent activities will continue to face prosecution and stiff penalties.

The Kaduna conviction adds to a growing list of successful prosecutions secured by the EFCC across its zonal commands as part of its nationwide anti-corruption enforcement campaign.

Court Convicts Two Ex-Bank Staff Over ₦7.8m Financial Fraud