Anti-corruption and elections / EFCC

₦8bn Fraud: Court Sentences Man to Three Years’ Imprisonment in Lagos

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday, November 5, 2025, convicted and sentenced one Samuel Ihechukwu Asiegbu to three years’ imprisonment without an option of fine for his role in an ₦8.56 billion fraud involving one of the first generation banks. Asiegbu was arraigned alongside several other defendants on a four-count charge bordering on conspiracy, stealing, and unauthorized access to a computer system with intent to commit fraud, contrary to Sections 409 and 386 of the Criminal Law of Lagos State, 2011. The defendants were first arraigned…