Justice O.A. Fadipe of the Lagos State High Court sitting in Ikeja, Lagos, has convicted and sentenced Adebisi Ridwan Ayodeji to 18 months’ imprisonment for defrauding Sterling Bank of the sum of ₦30,000,000 (Thirty Million Naira).
The convict was initially arraigned by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, Lagos, on a one-count charge of stealing to the tune of ₦30,000,000 before Justice Oluwatoyin Taiwo.
He was subsequently re-arraigned before Justice Fadipe, and the trial commenced de novo on March 3, 2023.
The charge reads:
“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 ₦30,000,000.00 (Thirty Million Naira), property of Sterling Bank Plc.”
He pleaded “not guilty” to the charge when it was read to him, thereby leading to a full trial.
In the course of the trial, the prosecution counsel, S.I. Suleiman, presented three witnesses and tendered several documents, which 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 ₦23,677,107.05, being the outstanding balance, to the petitioner, in addition to the custodial sentence.
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