Lagos Court Sentences Man To 18 Months For D£frauding Sterling Bank Of N30Million
Lagos Court Sentences Man To 18 Months For Defrauding Sterling Bank Of N30Million
Ayodeji was prosecuted by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, on a one-count charge of stealing.
Justice O. A. Fadipe of the Lagos State High Court in Ikeja has sentenced Adebisi Ridwan Ayodeji to 18 months’ imprisonment for defrauding Sterling Bank Plc of N30 million.
Ayodeji was prosecuted by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, on a one-count charge of stealing.
He was initially arraigned before Justice Oluwatoyin Taiwo but was later re-arraigned before Justice Fadipe. The trial began afresh on March 3, 2023.
The charge read: “Adebisi Ridwan Ayodeji, on or about the 15th 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.”
Sterling
He pleaded not guilty to the charge, prompting a full trial.
During the proceedings, the prosecution counsel, S.I. Suleiman, called three witnesses and tendered documentary evidence, all of which were admitted by the court.
In a judgment delivered on Tuesday, February 24, 2026, Justice Fadipe found Ayodeji guilty and sentenced him to 18 months’ imprisonment on the sole count.
The court also ordered him to pay restitution of N23,677,107.05, representing the outstanding balance owed to the petitioner, in addition to serving the custodial sentence.
