EFCC Press Release: Two Bankers Bag 2 Year Jail Term for Fraud

Funsho Olayele & Ayoade Peter Abiola

Funsho Olayele & Ayoade Peter Abiola

By Wilson Uwujaren
Justice Dije Abdu Aboki, on the 21st of February 2013, convicted and sentenced Funsho Olayele and Ayoade Peter Abiola to two years imprisonment with option of N410, 000 (Four Hundred and Ten Thousand Naira) fine each. The first accused was ordered to pay a compensation of N700, 000, while the second accused had already restituted the victim during the course of the investigation.

The convicts, both former staff of Intercontinental Bank Plc (now Access Bank Plc) were arraigned by the Economic and Financial Crimes Commission on a six count charge of conspiracy and misappropriation of funds.

Part of the charge read, ”that you Olaleye Funsho, Ayoade Peter Abiola and others at large on various dates between 11th November, 2009 and 29th January, 2010 at Kano within the jurisdiction of the High Court of Kano State while being officers of Intercontinental Bank Plc (now, Access Bank Plc) misappropriated the total sum of N2,700,000.00 (Two Million and Seven Hundred Thousand Naira only) by taking out of the possession of the Bank through the account of the Bank’s customer, Akkad Trading Company Limited and you thereby committed an offence contrary to section 308 and punishable under section 309 of the same Penal Code”.

Wilson Uwujaren
Ag. Head, Media & Publicity
22nd February, 2013

Contact Us…

Please send your Press Release/Articles/ Stories/Enquiries to: editor@newafricanpress.com

Views expressed herein are not necesarily that of  New African Press  but that of the individual writers. Facts and accuracies are the responsibilities of the authors. Please also note that some people may use pseudo names or generic emails, to which New African Press may not be able to verify. Therefore, an author’s identity should not be inferred on the basis of name, subject matter, or any other characterization presented here.

Pls leave your comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


This blog claims no credit for any images posted unless where otherwise stated. Images on this blog are copyright to its respectful owners. If there is an image appearing on this blog that belongs to you and you do not wish for it to appear on this site, please E-mail with a link to the image and it will be promptly removed.