Thu. Apr 15th, 2021

Businessman Bags 2 Years Jail Term For N9m Fraud

Businessman Bags 2 Years Jail Term For N9m Fraud

A businessman, Alhaji Gbadamosi Sikiru Olanrewaju, was today, convicted and sentenced to two years imprisonment,  y a Special Offences Court, Ikeja, Lagos, for obtaining the sum of N9 million by false pretence.

The businessman was given the the verdict, by the presiding judge, Justice Mojisola Dada, he pleaded guilty to the charge of obtaining under false pretence.

He was formerly charged before the court by the Economic and Financial Crimes Commission (EFCC), on two count of obtaining under false pretence and stealing.

Also, the court noted in his judgement that upon completion of serving term, the convict should enter into a bond with the EFCC, to be of good behaviour and never to be involved in economic and financial crimes, illegitimate or criminal act within and outside the shores of the Federal Republic of Nigeria.

Justice Dada who noted that the imprisonment shall run from the date of his formal arraignment in 2019, however, grant the convict an option of fine of N1 million.

EFCC had arraigned the convict on an amended charges of a count information of stealing.

During the trial, EFCC through its prosecutor, Muhammed Hussain, told the court that the convict on November 19, 2010, in Lagos within the jurisdiction of the court with a dishonest intent stole the sum of N9 million, from one John Stevens.

The anti graft agency said that the offence is contrary to Section 390 of the Criminal Code Cap C17 Vol. 2 Laws of Lagos State of Nigeria, 2003.

At the hearing of the charge against the convict today, the prosecutor, Muhammed.


During the arraignment, EFCC Counsel, informed the court of an amended charges from two count to one and urged the court to take the convict plea.

When the charge was read to the convict, Gbadamosi Sikiru Olarenwaju, he pleaded guilty.

Upon his plea, EFCC Counsel informed the court of a plea bargain agreement with the convict and pray court adopt same in sentencing him accordingly.

The submission which the convict counsel, Ademola Aderinle conceded to, while pointing out that the convict is a first time offender who has regretted his actions.

In her, judgement, Justice Mojisola Dada ordered the forfeiture of the convict property situated at 9 Lawal Mohammed Street, Alimosho Local Government Area of the State, as payment in the sum of N8 million, as the final restitution to the nominal complainant.