A Lagos Special Offences Court sitting in Ikeja has sentenced one Samuel Ihechukwu Asiegbu to three years’ imprisonment for his involvement in an ₦8.56 billion fraud linked to one of the first-generation banks.
Justice Rahman Oshodi delivered the judgment on Wednesday, November 5, 2025, after Asiegbu changed his plea from not guilty to guilty.
The Economic and Financial Crimes Commission (EFCC) had arraigned Asiegbu alongside several others 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 Lagos State Criminal Law, 2011.
Asiegbu was sentenced to 10 months and 8 days’ imprisonment on count three and 1 year and 8 months on count four, both without an option of fine.
The sentences are to run concurrently, amounting to a total of three years in prison.
Justice Oshodi also struck out counts one and two following the conviction.
The court adjourned the trial of the remaining defendants to November 14, 2025, for continuation of proceedings.
The EFCC, in a statement by its Head of Media and Publicity, Dele Oyewale, reaffirmed its commitment to ensuring that all individuals involved in the ₦8.56 billion fraud are brought to justice.
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