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Union Bank Staff, others Jailed 10 yrs for N116m Theft.



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Union Bank Staff, others Jailed 10 yrs for N116m Theft.


N116m Theft as Union Bank Staff, and others Jailed 10 Years Imprisonment.


NewsReport Nigeria March 7, 2021

For fraudulently diverting N116m union bank customers’ fund to personal use, Justice Mojisola Dada of Lagos State High Court, Ikeja has sentenced and convicted one Temitope Oluwasanmi, a former staff of Union bank plc to 10 years in prison.

NewsReport Nigeria gathered that the court also finds his accomplice, one Augustine Olayinka guilty as charged and therefore, sentenced him to 7 years in prison. The conviction was secured by the Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC.

A statement signed by the Head, media and Publicity, Wilson Uwujaren and made available to iReportnews online noted that “The convicts were arraigned in December 2017 on a six-count charge bordering on conspiracy, stealing and fraudulent diversion of funds to the tune of N116million (One Hundred and Sixteen Million Naira) to which they pleaded “not guilty” prompting commencement of trial

Oluwasanmi, an employee of Union Bank of Nigeria (UBN) Plc, who was arrested by operatives of the EFCC in October 2017, following a petition from the bank was alleged to have diverted the N116million to the accounts of three friends: Augustine Olayinka, Oginni Opeyemi and Ogbaro Oluwaseyi.


Opeyemi and Oluwaseyi remained at large. In the course of the trial, prosecuting counsel, Bilikisu Bala Buhari, called three witnesses and tendered several documents to prove the case against them.

Delivering judgement today, March 5, 2021, Justice Dada found the first and second defendants guilty of count one bordering on conspiracy, and sentenced them to three years imprisonment.

The first defendant was further convicted of counts two, three and four and sentenced to 10 years imprisonment. He was also found guilty of count six bordering on retention of criminal proceeds and sentenced to three years imprisonment, while the second defendant was found guilty of count five bordering on fraudulent false accounting and sentenced to seven years imprisonment.”

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