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Ex-Lagos Education Director Olawale Faleti Sentenced to 2 Years 5 Months for ₦48.9 Million Theft from Access Bank
A Lagos court has sentenced Olawale Faleti, a former Director in the Lagos State Ministry of Education, to two years and five months in prison for stealing ₦48.9 million from Access Bank Plc.
The conviction, delivered by Justice Rahman Oshodi of the Ikeja Special Offences and Domestic Violence Court, followed multiple counts of theft brought by the EFCC. The judge noted the deliberate and sustained nature of the offences, highlighting that Faleti repeatedly withdrew funds he was unauthorised to access.
Although a first-time offender, Faleti received a custodial sentence due to the scale of the crime. The court ordered him to refund ₦45.9 million after deducting ₦3 million already restituted, with all sentences running concurrently.
The theft occurred during the COVID-19 pandemic in 2020, exploiting a system glitch in a bank-issued credit card, and contravened Section 287(1)(a) of the Criminal Law of Lagos State, 2015. Justice Oshodi stressed that public confidence in financial institutions must be protected and that severe consequences follow attempts to defraud banks.
A Lagos court has sentenced Olawale Faleti, a former Director in the Lagos State Ministry of Education, to two years and five months in prison for stealing ₦48.9 million from Access Bank Plc.
The conviction, delivered by Justice Rahman Oshodi of the Ikeja Special Offences and Domestic Violence Court, followed multiple counts of theft brought by the EFCC. The judge noted the deliberate and sustained nature of the offences, highlighting that Faleti repeatedly withdrew funds he was unauthorised to access.
Although a first-time offender, Faleti received a custodial sentence due to the scale of the crime. The court ordered him to refund ₦45.9 million after deducting ₦3 million already restituted, with all sentences running concurrently.
The theft occurred during the COVID-19 pandemic in 2020, exploiting a system glitch in a bank-issued credit card, and contravened Section 287(1)(a) of the Criminal Law of Lagos State, 2015. Justice Oshodi stressed that public confidence in financial institutions must be protected and that severe consequences follow attempts to defraud banks.
Ex-Lagos Education Director Olawale Faleti Sentenced to 2 Years 5 Months for ₦48.9 Million Theft from Access Bank
A Lagos court has sentenced Olawale Faleti, a former Director in the Lagos State Ministry of Education, to two years and five months in prison for stealing ₦48.9 million from Access Bank Plc.
The conviction, delivered by Justice Rahman Oshodi of the Ikeja Special Offences and Domestic Violence Court, followed multiple counts of theft brought by the EFCC. The judge noted the deliberate and sustained nature of the offences, highlighting that Faleti repeatedly withdrew funds he was unauthorised to access.
Although a first-time offender, Faleti received a custodial sentence due to the scale of the crime. The court ordered him to refund ₦45.9 million after deducting ₦3 million already restituted, with all sentences running concurrently.
The theft occurred during the COVID-19 pandemic in 2020, exploiting a system glitch in a bank-issued credit card, and contravened Section 287(1)(a) of the Criminal Law of Lagos State, 2015. Justice Oshodi stressed that public confidence in financial institutions must be protected and that severe consequences follow attempts to defraud banks.
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