A Lagos State Special Offences and Domestic Violence Court sitting in Ikeja has sentenced a 64-year-old former Lagos State education director, Olawale Solomon Feleti, to two years and five months’ imprisonment for stealing N48,992,271.73.
Justice Rahman Oshodi convicted and sentenced Feleti after finding him guilty on a five-count charge of stealing preferred against him by the Economic and Financial Crimes Commission (EFCC).
The prosecution counsel, Mr A. M. Dambuwa, told the court that the convict dishonestly converted the sum of N48,992,271.73 belonging to Access Bank Plc.
According to the EFCC, Feleti exploited a glitch during the COVID-19 pandemic in 2020 to gain unauthorised access to the bank’s credit card system, withdrawing not less than N43,000 per transaction and dishonestly converting a total of about N48 million.
The commission said that between July 2 and July 10, 2020, Feleti, with intent to defraud, dishonestly converted N12,528,598.00 to his personal use, as well as N6,808,480.00 on May 22, 2020, and July 1, 2020, all properties of Access Bank Plc.