A former director in the Lagos State Ministry of Education has been sentenced to prison for stealing nearly forty-nine million naira. The conviction was delivered by a special offences court in Ikeja.
Court Convicts Former Official on Five Counts
Justice Rahman Oshodi of the Lagos State Special Offences and Domestic Violence Court found Olawale Solomon Feleti guilty on five separate counts of stealing. The 64-year-old ex-director was prosecuted by the Economic and Financial Crimes Commission (EFCC).
The judge sentenced Feleti to two years and five months' imprisonment on each count. The court ordered that the sentences run concurrently, meaning he will serve a total of 29 months behind bars.
How the ₦48.9 Million Fraud Was Executed
The EFCC proved that Feleti dishonestly converted ₦48,992,271.73 belonging to Access Bank Plc for his personal use. He exploited a technical glitch in the bank's credit card platform during the COVID-19 pandemic in 2020.
Investigations revealed he gained unauthorized access and made multiple withdrawals. The prosecution detailed that Feleti sometimes took out up to ₦43,000 per transaction, fully aware he had no right to the funds.
The specific periods of his illegal activity were outlined in court:
- Between July 2 and July 10, 2020, he fraudulently withdrew ₦12,528,598.
- Between May 22 and July 1, 2020, he withdrew an additional ₦6,808,480.
These actions contravened Section 287(1)(a) of the Criminal Law of Lagos State, 2015.
Sentencing and Court Orders
In his judgment, Justice Oshodi described Feleti's actions as calculated, noting he carried out numerous transactions despite knowing they were illegal. The judge also observed that the convict showed no genuine remorse and failed to accept responsibility.
Beyond the prison term, the court issued several financial orders against Feleti:
- Pay restitution of ₦3 million to the court.
- Refund ₦45,991,271.73 to Access Bank Plc.
- Pay a fine of ₦5 million.
Justice Oshodi noted that full restitution could lead to consideration of a non-custodial sentence if the bank formally notifies the court. The custodial sentence is to commence on January 5, 2026, at a maximum security facility.
Furthermore, the judge directed that Feleti's name be entered into the Lagos State offenders' registry maintained by the state judiciary, a move that will have lasting consequences on his record.
