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

Justice Yellim Bogoro of the Federal High Court in Ikoyi, Lagos, on Monday, sentenced a staff member of Ecobank Plc, Solomon Ufayo, to one year imprisonment for cybercrime involving N2.4 million.

Ufayo was convicted after pleading guilty to a one-count charge brought against him by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC.

According to a statment by the EFCC on Monday, the charge stated that between March 10 and 28, 2025, while working as a Relief Teller at Ecobank, Ufayo fraudulently posed as a customer, Ogunfodunrin Ajoke, and manipulated her account by posting false deposits and processing withdrawals totalling N2.4m without her consent.

He subsequently transferred the stolen funds to his own account in a different bank.

The charge reads: “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 number 2801086259 with intent to gain advantage for yourself and thereby committed an offence contrary to Section 22(2)(b)(i) of the CYBERCRIME (PROHIBITION, PREVENTION etc)Act, 2015 and punishable by Section 22(2)(b) of the same Act.”

He pleaded guilty to the charges leveled against him.
Following his guilty plea, EFCC operative, David Gajere, reviewed the facts of the case and told the court that Ufayo made a confessional statement and returned the stolen sum via a bank draft as restitution.

During the hearing, Ufayo begged the court for mercy, citing financial hardship and the birth of his child while in custody as reasons for his actions.

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

Justice Bogoro sentenced him to one year in prison with an option of a N500,000 fine.

Newzcruise

Newzcruise

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