The Special Offences Court sitting in Ikeja, Lagos, on Wednesday convicted and sentenced one Samuel Ihechukwu Asiegbu to three years’ imprisonment without an option of fine for his role in an N8.56 billion fraud targeting a commercial bank.
Justice Rahman Oshodi delivered the judgment after Asiegbu changed his initial ‘not guilty’ plea to guilty.
Asiegbu was initially arraigned on June 23, 2025, alongside other defendants, on a four-count charge that included conspiracy, stealing, and unauthorised access to a computer system with intent to commit fraud.
The conviction centred on counts three and four, which detailed the unauthorised access to Wema Bank’s computer systems to facilitate the theft of the aggregate sum of N8,568,090,500.
Count four specifically cited the unauthorised access to the bank’s computer and server with the intent to steal the massive sum.
Justice Oshodi sentenced Asiegbu to 10 months and 8 days on count three and 1 year and 8 months on count four.
The sentences are to run concurrently, totalling a three-year jail term. Counts one and two were subsequently struck out.
The judge affirmed that no option for a fine would be granted for the offences. The trial for the remaining defendants, including Hamza Zakaria and Nurudeen Ibrahim, will continue.
Justice Oshodi adjourned to November 14, 2025, for further proceedings against the other accused persons.