Lagos man Adebisi Ayodeji jailed for defrauding Sterling Bank of N30m

By Ayorinde Oluokun/Abuja

A Lagos man identified as Adebisi Ridwan Ayodeji has been sentenced to 18 months imprisonment for defrauding Sterling Bank of the sum of N30 million.

Ayodeji was convicted and jailed by Justice O.A. Fadipe of the Lagos State High Court sitting in Ikeja, Dele Oyewale, the spokesperson for the Economic and Financial Crimes Commission, EFCC said in a statement on Thursday.

According to the statement, Ayodeji was initially arraigned on a one-count charge of stealing to the tune of N30 million before Justice Oluwatoyin Taiwo.

He was subsequently re-arraigned before Justice Fadipe, and the trial commenced de novo on March 3, 2023.

The charge reads: “Adebisi Ridwan Ayodeji, on or about the 15th day of September 2021, in Lagos within the jurisdiction of this Honourable court, fraudulently converted to your own use the sum of N30,000,000.00 Thirty Million Naira), property of Sterling Bank Plc.”

He pleaded “not guilty” to the charge when it was read to him, thereby leading to his full trial.

In the course of the trial, the prosecution counsel, S.I. Suleiman, presented three witnesses and tendered several documents that were admitted in evidence against the defendant.

Delivering judgment on Tuesday, February 24, 2026, Justice Fadipe sentenced the defendant to 18 months imprisonment on the one-count charge of stealing.

The judge also ordered the convict to make restitution in the sum of N23,677,107.05, being the outstanding balance, to the petitioner in addition to the custodial sentence.