An Ikeja Special Offences Court has sentenced Samuel Asiegbu to three years in prison without the option of a fine for his role in an ₦8.56 billion fraud perpetrated against Wema Bank Plc.
According to a statement released by the Economic and Financial Crimes Commission (EFCC) on Thursday, Justice Rahman Oshodi handed down the sentence after Asiegbu pleaded guilty to charges of conspiracy, stealing, and unauthorised access to a computer system with intent to commit fraud.
The EFCC said Asiegbu was initially arraigned alongside other defendants on a four-count charge on June 23, 2025, all of whom pleaded not guilty. However, Asiegbu later changed his plea to guilty, prompting the court to convict him.
Justice Oshodi sentenced Asiegbu to 10 months and 8 days on count three, and 1 year and 8 months on count four, with the sentences to run concurrently. Counts one and two were struck out.
The EFCC noted that the remaining defendants are expected back in court on November 14, 2025, as their trial continues. Their identities have not been disclosed.
This case underscores the EFCC’s ongoing crackdown on high-profile financial crimes and reiterates the judiciary’s stance on fraud in Nigeria’s banking sector.
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