Oreoluwa Adesakin, a former staff of First Bank, has been handed a 98 years jail term by Justice Muniru Olagunju of the Oyo State High Court.
Adesakin was found to have committed financial fraud against her employers to the tune of N49,320,652.32 (Forty-nine Million, Three Hundred and Twenty Thousand, Six Hundred and Fifty-two Naira, Thirty-two Kobo), and an additional $368,203.00 (Three Hundred and Sixty-eight Thousand, Two Hundred and Three United States Dollars) belonging to the bank which she converted to her personal use.
She was prosecuted by the Ibadan Zonal Office of the Economic and Financial Crimes Commission, (EFCC), on 14-count charges, bordering on stealing, forgery, and fraudulent accounting.
Justice Olagunju who pronounced Adesakin guilty of all the charges sentenced her to seven years in prison without an option of fine on each of the 14 counts, which will run concurrently.
Apart from the jail term, the convict is also to restitute the First Bank, through the EFCC, all the money she stole.
The convict was arraigned April 4, 2014, by the EFCC following investigation on First Bank petition dated December 18, 2013.
The bank said Adesakin, a Money Transfer Operator, saddled with the responsibility of effecting payments through Western Union Money Transfer and Money Gram platforms, manipulated accounting and withdrew a total of N49, 320,652 and another $368,203 for herself.
EFCC spokesman, Wilson Uwujaren, said operatives established that the convict used part of the proceeds to acquire landed properties in different parts of Oyo State.