The Lagos State Special Offences Court sitting in Ikeja has sentenced Ojora Sulaiman Kehinde to seven years’ imprisonment for fraudulently converting ₦81.3 million belonging to Sterling Bank Plc.

Naijaonpoint reports that Justice Mojisola Dada, while delivering judgment on Friday, directed the prosecution to deploy all legal means to ensure full restitution of the stolen funds to the bank.

The case, FRN v. Ojora Sulaiman Kehinde (Charge No: ID/20131C/2022), was instituted by the Economic and Financial crimes Commission (EFCC) through its counsel H.U Kofarnaisa following allegations that the defendant dishonestly stole by fraudulently converting funds through a system glitch in Sterling Bank’s operations.

The EFCC disclosed that Kehinde, who maintained an account with Sterling Bank, exploited a temporary technical malfunction in the bank’s electronic transfer system. The glitch allowed certain customers to initiate transfers far exceeding their actual account balances.

On May 17, 2022, Kehinde, who had a balance of only ₦3,000, managed to transfer ₦500,000 in three tranches to his wife, Amina Ojora’s account. Over time, he carried out a series of similar transfers, moving funds that were never available in his account.

Sterling Bank’s internal investigation later traced a total of ₦178.2 million to Kehinde. Of this, he fraudulently transferred ₦122 million directly to his wife’s account, while routing other sums to additional beneficiaries.

Although the bank was able to recover ₦68 million, the outstanding ₦89 million remained unaccounted for.

At trial, the prosecution, called two witnesses, including a representative of Sterling Bank, who testified and tendered documentary evidence, such as the bank’s petition and transaction records.

The prosecution argued that the essential ingredients of the offence of stealing had been established beyond reasonable doubt, citing several legal precedents on the interpretation of “dishonest conversion” and the standard of proof in criminal trials.

In her ruling, Justice Dada agreed with the prosecution that the evidence was overwhelming. She held that the defendant had dishonestly converted Sterling Bank’s funds with clear intent to permanently deprive the bank of its property.

The judge emphasized that the case met all the legal requirements for a conviction under Section 280(2), punishable under Section 287 of the Criminal Law of Lagos State, 2015.

Consequently, Kehinde was convicted and sentenced to seven years in prison.

Justice Dada further ordered that the prosecution pursue all available legal avenues to ensure the restitution of the outstanding ₦81.3 million to Sterling Bank.