12 Years Jail Term for Bank Official

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THE Federal High Court in Ibadan, Oyo State, on Thursday, October 6, sentenced Ademola Oni, a former employee of Wema Bank, to 12-year imprisonment for conspiracy and money laundering.

Delivering the judgement, Justice Joyce Abudmalik, presiding judge, also ordered that Oni should forfeit all his properties and cash in various banks as proceeds of crime.

The properties to be forfeited by the convict are an empty plot of land fenced with black gate located along the road beside Secam Church, Providence Estate, Sango Eleyele Expressway, Ibadan.

He is also to forfeit a Honda Accord Car 2014 model and another empty plot of land located at Alao Akala Estate, along Akubu Ojuirin, near Apostolic Church, Ikolaba, Ibadan.

Others are a storey building located at Aminu Olaniran Street, Ikolaba, behind the Apostolic Church, Ikolaba Assembly, Ikolaba, Ibadan; and three acres of land at Okuna Village, Along Akufo Village, by Fumakson filling station, Ido Local Government Area, Ibadan.

An empty plot of land at No. 16, Awolowo Avenue, Old Bodija, Ibadan; a storey building located at No. 16, Awolowo Avenue, Old Badija, Ibadan; and a borehole machine are to be forfeited also.

He is also to forfeit several sums in bank accounts, including N43,259,441.22 in a fixed deposit account with FCMB; N70,614.60 in the name of ‘De-City-Life Enterprise with account No. 22749019 also domiciled with FCMB; another N7,189.22 in the name of Oni Iyabo Mary in the same bank; and N966,788.81 in the First Bank account of Ezomal Ventures, among others.

Oni was arraigned alongside six former officials of the Central Bank of Nigeria, CBN, and 15 others from different commercial banks in an alleged case of conspiracy and money laundering.

The bank officials allegedly conspired to steal and conceal mutilated and defaced local currency amounting to N8billion from the CBN.

Oni, who was the fourth defendant in the case, entered into a plea bargain with the prosecution, and pleaded guilty to an amended charge.

Hence, he pleaded guilty to five of the 24-count amended charge and he was convicted and sentenced to two-and-a-half years on each of the five counts. The sentences are to run concurrently.

— Oct 17, 2016 @ 01:00 GMT

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