The Lagos State Special Offences Court sitting in Ikeja has sentenced Ojora Sulaiman Kehinde to seven years’ imprisonment for fraudulently converting ₦81.3 million belonging to Sterling Bank Plc.
In a strongly worded judgment delivered on Friday, Justice Mojisola Dada also directed the prosecution to deploy all legal means to ensure the full restitution of the stolen funds to the bank.
In a scathing rebuke, the court descended heavily on the defence counsel, describing him as a “pathological liar” and questioning his professional standing in the conduct of the case.
The case, FRN v. Ojora Sulaiman Kehinde (Charge No: ID/20131C/2022), was instituted by the Economic and Financial Crimes Commission (EFCC) through its counsel H.U. Kofarnaisa, following allegations that the defendant dishonestly stole by fraudulently converting funds through a system glitch in Sterling Bank’s operations.
According to the EFCC’s evidence, Kehinde, who maintained an account with Sterling Bank, exploited a temporary technical malfunction in the bank’s electronic transfer system, which allowed certain customers to initiate transfers exceeding their actual account balances.
On May 17, 2022, Kehinde—who had a balance of only ₦3,000—managed to transfer ₦500,000 in three tranches to his wife, Amina Ojora’s account. Over time, he executed several similar transfers, moving funds that were never available in his account.
An internal investigation by Sterling Bank later traced a total of ₦178.2 million to Kehinde. Of this, he fraudulently transferred ₦122 million directly to his wife’s account while routing other sums to additional beneficiaries.
Although the bank recovered ₦68 million, the outstanding ₦89 million remained missing.
At trial, the prosecution called two witnesses—including a Sterling Bank representative—who testified and tendered documents such as the bank’s petition and transaction records.
The prosecution argued that all essential elements of stealing had been established beyond reasonable doubt, citing legal precedents on “dishonest conversion” and the required standard of proof.
The defendant, however, called no witnesses and chose to rest his case on that of the prosecution.
In her ruling, Justice Dada held that the prosecution’s evidence was overwhelming, concluding that Kehinde dishonestly converted Sterling Bank’s funds with intent to permanently deprive the bank of its property.
She ruled that the case satisfied the requirements for conviction under Section 280(2), punishable under Section 287 of the Criminal Law of Lagos State, 2015.
Consequently, Kehinde was convicted and sentenced to seven years in prison, with an order for restitution of the outstanding ₦81.3 million.
Beyond the conviction, the judgment drew attention for Justice Dada’s strong criticism of the defence counsel, whom she branded a “pathological liar.” The judge questioned his professional ethics and credibility, expressing deep displeasure with his handling of the case.