Bank official bags one-year jail term for N2.4m fraud

Bank official bags one-year jail term for N2.4m fraud

Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Monday sentenced a staff member of Ecobank Plc, Solomon Stephen Ufayo, to one year imprisonment for cybercrime involving the fraudulent manipulation of a customer’s bank account to the tune of N2.4 million.

The conviction followed Ufayo’s guilty plea to a one-count charge filed against him by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC).

According to an EFCC statement, Ufayo committed the offence between March 10 and 28, 2025, while working as a Relief Teller at the bank.

He was accused of impersonating a customer, Ogunfodunrin Omowunmi Ajoke, by posting false deposit and withdrawal entries on her Ecobank account without her knowledge.

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He then transferred the funds—totalling N2.4 million—to his personal account at another bank.

The charge reads in part:

“That you, Solomon Stephen Ufayo, between the 10th to the 28th day of March, 2025, in Lagos within the jurisdiction of this Honourable Court, while working for Ecobank Nigeria Limited as a Relief Teller, fraudulently represented yourself as Ogunfodunrin Omowunmi Ajoke, by posting false deposit and withdrawal tellers on her Ecobank account… with intent to gain advantage for yourself…”

The offence contravenes Section 22(2)(b)(i) of the Cybercrime (Prohibition, Prevention, etc) Act, 2015 and is punishable under Section 22(2)(b) of the same Act.

Following his plea, EFCC operative David Gajere presented the facts of the case, including Ufayo’s confessional statement and a bank draft with which he refunded the stolen sum in full as restitution.

In a plea for leniency, Ufayo told the court that financial hardship drove him to commit the crime, adding that his wife gave birth while he was in custody.

“I was still in custody when my wife delivered the baby. I have learnt my mistakes now,” he told the court.

Justice Bogoro sentenced Ufayo to one year imprisonment with an option of a N500,000 fine. The court also ordered that he perform two weeks of community service as part of his sentence.