Former Oceanic Bank Staff Bags 195 Years In Prison For Stealing N21m

A Banker, Mr. Aliyu Suleiman, has been jailed for 195 years by the Kano State High Court for stealing
N21million belonging to a community-owned microfinance bank.

On arraignment, before the court presided over by Justice Dije Abdu Aboki, the convict pleaded not guilty to the 105-count charge brought against him by the Economic and Financial Crimes Commission (EFCC).

 The convict was arraigned by the EFCC on  September 30 2014, for allegedly stealing over N21million from Albasu Microfinance Bank.

 But in her judgment, Justice Aboki sentenced Mr. Suleiman to two years on the first 44 counts of the 105-count charge and a fine of N300, 000 on each.

The judge pointed out that where the convict defaults in the payment of the fine, he is to serve additional six-month imprisonment on each count.

From counts 45 to 74, the convict was sentenced to a fine of N500, 000 or 12-month imprisonment on each count, while on count 75 to 105, he is to pay a fine of N200, 000 or face a 12-month imprisonment on each count apart from 97, which was considered a duplication.

The sentences are to run concurrently.

The convict was also ordered to refund the sum of N14. 8million  as restitution to Albasu community or spend five more years in prison.

Mr. Suleiman, a former staff of the defunct Oceanic Bank, was engaged and entrusted by the Albasu Community to take charge of its microfinance bank.

While in charge, the convict breached that trust by siphoning over N21million by forging signatures of the other signatories to the funds.



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