Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday convicted and sentenced Samuel Asiegbu to three years’ imprisonment without an option of fine for his involvement in an ₦8.56 billion fraud at Wema Bank Nigeria Plc.
Asiegbu was arraigned alongside Hamza Zakaria, Nurudeen Ibrahim, and Alhaji Sulaiman (who is currently at large) on four counts of conspiracy, stealing, and unauthorised access to a computer system, filed against them by the Economic and Financial Crimes Commission (EFCC).
The defendants were first arraigned on June 23, 2025, and had all initially pleaded not guilty. However, Asiegbu later changed his plea to guilty, which led to his conviction and sentencing, while the trial of the remaining defendants continues.
According to the EFCC, Asiegbu, Zakaria, Ibrahim, Sulaiman, and others (still at large) conspired in January 2025 to unlawfully gain access to Wema Bank’s computer systems and servers, stealing a total of ₦8,568,090,500 from various accounts domiciled in the bank.
The prosecution stated that their actions violated Sections 409 and 386 of the Criminal Law of Lagos State, 2011.
In his judgment, Justice Oshodi sentenced Asiegbu to 10 months and 8 days’ imprisonment on count three, and 1 year and 8 months on count four, both without an option of fine. The judge ruled that the sentences will run concurrently, amounting to a total of three years in prison.
The court also struck out counts one and two of the charges.
Justice Oshodi subsequently adjourned the case to November 14, 2025, for the continuation of trial involving the remaining defendants.