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A Lagos State High Court sitting in Ikeja has sentenced Adebisi Ridwan Ayodeji to 18 months’ imprisonment for defrauding Sterling Bank Plc of N30 million.
Ayodeji was convicted by Justice O.A. Fadipe following a prosecution by the Economic and Financial Crimes Commission, EFCC.
The development was confirmed in a statement issued on Thursday by the commission’s spokesperson, Dele Oyewale.
According to the EFCC, the defendant was initially arraigned on a single count of stealing before Justice Oluwatoyin Taiwo of the Lagos State High Court.
The case was later reassigned to Justice Fadipe, before whom the trial commenced afresh on March 3, 2023.
The charge stated that Ayodeji, on or about September 15, 2021, fraudulently converted N30 million belonging to Sterling Bank Plc to his personal use, an offence within the court’s jurisdiction.
He pleaded not guilty when the charge was read, prompting a full trial.
During proceedings, the prosecution, led by S.I. Suleiman, called three witnesses and tendered several documentary exhibits, all of which were admitted in evidence.
In his judgment delivered on Tuesday, February 24, 2026, Justice Fadipe found the defendant guilty as charged and sentenced him to 18 months’ imprisonment.
The court ordered Ayodeji to refund the sum of N23,677,107.05, being the outstanding balance of the stolen funds, to the affected bank as restitution.
