Justice O.A. Fadipe of the Lagos State High Court sitting in Lagos has convicted and sentenced one Adebisi Ridwan Ayodeji to 18 months 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, on a one-count charge of stealing to the tune of N30,000,000 before Justice Oluwatoyin Taiwo.
The Economic and Financial Crimes Commission made this known in a statement shared on its Facebook page on Thursday.
According to the statement, the suspect was subsequently re-arraigned before Justice Fadipe, and the trial commenced de novo on March 3, 2023.
The count 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.”
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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 judgment 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.