A painter, Sultan Olawale Sulaiman has been convicted and sentenced to a total of four years imprisonment, over his involvement in multimillion-naira financial transactions linked to fraud and money laundering, by a Federal High Court, Lagos.
The convicted painter was arraigned in a charge marked, marked FHC/LAG/CR/841/2026, by the Economic and Financial Crimes Commission (EFCC) before the court presided over by Justice Daniel Osiagor, on Friday.
Arraigning the convict on Friday, the EFCC’s lawyer, Zainab Atiku, informed the court that the convicted painter, Sulaiman took possession of a total of N104,093,150 million from four businesses through accounts domiciled with different financial institutions between January 2024 and September 2025.
Analysing the processed taking by the convict in commuting the financial crimes, the prosecutor told the court that he receiving N41.707 million from Brandtech Multilinks Enterprise between July 18 and August 26, 2024, through his FCMB account.
She also told the court that the convict alleged collected the sum of N23.114 million from Okesreal Farm Nigeria Limited between March 1 and September 2, 2025, through his Kuda Bank account.
The prosecutor further told the court that the convict fraudulently took possession of N21.272 million from WB Multi-concept Global Services Limited between February 1 and December 6, 2024, through his Moniepoint Microfinance Bank account. Adding that the convict also fraudulently received N18 million from Pedrojay Multi-links Enterprise between January 7 and 21, 2024, through his FCMB account number: 4227085034.
The prosecutor told the court that the financial crimes of the convict contravened Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022. And Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The convict pleaded guilty to the four count charges.
Following to his guilty plea, the prosecutor through an investigator, reviewed the facts of the charges, as well, tendered all the Exhibits in the matter.
The prosecutor also prayed the court to convict and sentence the painter by virtue of guilty plea.
However, the convict’s lawyer, Adenike Goncalves Esq, told the court that her client, who is a mother painter, has since realized his mistake and became remorseful.
Conclaves, thereafter prayed the court to be merciful with her client, and to consider a non-custodial sentence.
Justice Osiagor in his verdict, sentenced the painter to four years imprisonment on each counts.
The judge further ruled that the convicted painter is given a fine option of N1 million with three days community services on each of the counts.
Justice Osiagor also ruled that all the jail-term and fine option to run concurrently. judge further
Parts of the charges against the convict read: “that you Sultan Olawale Sulaiman sometime between 18th July, 2024 and 26th August, 2024 in Lagos within the Jurisdiction of this of this Honourable Court, did directly take possession from Brandtech Multilinks Enterprise, the aggregate sum of N41, 707,000 (forty one million, seven hundred and Seven Thousand Naira} using your Bank account domiciled with FCMB Bank with account number: 4227085034, which sums you knew formed part of the proceeds of an unlawful act to wit: money laundering, and you thereby committed an offence contrary fo sections 18(2}(d) of the Money Laundering (Prevention and prohibition) Act, 2022 and punishable under section 18 (3) of the same Act.
“That you Sultan Olawale Sulaiman sometime between 1st March, 2025 and 2nd September, 2025 in Lagos within the Jurisdiction of this of this Honourable Court, did directly take possession from Okesreal Farm Nig. Ltd, the aggregate sum of N23, 114, 000 (Twenty Three Million ,One Hundred and Fourteen Thousand Naira) using your Bank account domiciled with Kuda Bank with account number: 1101240696, which sums you knew formed part of the proceeds of an unlawful act to wit: money laundering, and you thereby committed an offence contrary to sections 18(2)(d) of the Money Laundering (Prevention and prohibition) Act, 2022 and punishable under section 18 (3) of the same Act.
“That you Sultan Olawale Sulaiman sometime between 1st February, 2024 and 6th December, 2024 in Lagos within the Jurisdiction of this of this Honourable Court, did directly take possession from WB Multi-concept Global services Ltd, the aggregate sum of N21, 272,150 (Twenty One Million, Two Hundred and Seventy Two Thousand, One Hundred and Fifty Naira) using your Bank account domiciled with moniepoint micro-finance Bank with account number: 5269411749, which sums you knew formed part of the proceeds of an unlawful act to wit: money laundering, and you thereby committed an offence contrary to sections 18(2)(d) of the Money Laundering (Prevention and prohibition) Act, 2022 and punishable under section 18 (3) of the same Act.
“That you Sultan Olawale Sulaiman sometime between 7th and 21st January, 2024 in Lagos within the Jurisdiction of this of this Honourable Court, did directly take possession from Pedrojay Multi-links Enterprise, the aggregate sum of N18, 000, 000 (Eighteen Million Naira) using your Bank account domiciled with FCMB Bank with account number: 4227085034, which sums you knew formed part of the proceeds of an unlawful act to wit: money laundering, and you thereby committed an offence contrary to sections 18(2)(d) of the Money Laundering (Prevention and prohibition) Act, 2022 and punishable under section 18 (3) of the same Act.”