Former Oceanic bank staff jailed for 195 years over a N21m fraud

Kano State High Court presided by Honourable Justice Dije Abdu Aboki has convicted and sentenced one Aliyu Suleiman to 195 years imprisonment. The convict was arraigned by the EFCC on the September 30, 2014, for allegedly stealing over N21m from Albasu Microfinance Bank.

Upon his arraignment, Suleiman pleaded not guilty to all the count charge brought against him. In her judgment, yesterday, Justice Aboki sentenced him to serve two years on each of count one to forty four and fine of N300, 000 on each.

Where the convict defaults the fine, he is to serve additional six months imprisonment on each count. From count 45 to 74, the convict was sentenced to fine of N500, 000 or 12 months imprisonment on each count.
On count 75 to 105, he is to pay fine of N200, 000 or 12 months imprisonment on each count with the exception of count 97 which appeared to be duplication. The sentences were to run concurrently.
Suleiman was also ordered to restitute the sum of N14, 815,000 to the Albasu Community or spend five more years in prison. The convict was a former staff of Oceanic Bank who was engaged and entrusted by the Albasu Community to take charge of their Microfinance Bank.
While in charge, the convict violated that trust and siphoned over N21m by forging signatures of the other signatories to the funds.

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