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Nigeria: Court Sentences Man to Three Years in Jail Over N8.5bn Wema Bank Fraud

Kehinde Giwa by Kehinde Giwa
November 7, 2025
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Nigeria: Court Sentences Man to Three Years in Jail Over N8.5bn Wema Bank Fraud
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An Ikeja special offences court has sentenced Samuel Asiegbu to three years’ imprisonment without an option of fine for his role in an N8.56 billion fraud against Wema Bank Plc.

Asiegbu pleaded guilty to his involvement in the fraud, and the Economic and Financial Crimes Commission (EFCC) said the judge, Rahman Oshodi, convicted and sentenced him accordingly.

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The EFCC said Asiegbu was arraigned alongside other defendants on a four-count charge bordering on conspiracy, stealing, and unauthorized access to a computer system with intent to commit fraud.

The trial of the remaining defendants will continue on November 14.

Asiegbu’s sentence includes 10 months and 8 days’ imprisonment on count three and 1 year and 8 months on count four, both without an option of fine, to run concurrently.

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