A former banker, Samuel Asiegbu, has been sentenced to three years in prison without an option of fine for his role in an ₦8.56 billion fraud involving a first-generation Nigerian bank.
The Economic and Financial Crimes Commission (EFCC) announced the conviction on Wednesday, stating that Asiegbu was arraigned alongside other defendants on charges of conspiracy, stealing, and unauthorised access to computer systems.
Initially pleading not guilty when arraigned on June 23, 2025, Asiegbu later changed his plea to guilty. Justice Rahman Oshodi then convicted and sentenced him to 10 months and eight days on one count and one year, eight months on another, to run concurrently.
The trial of the remaining suspects continues on November 14, 2025.
The EFCC also recently secured a five-year jail term for Grace Andreas Karka, Managing Director of Bonghe Microfinance Bank, for diverting ₦32 million, and had in May arraigned several other bankers linked to the same ₦8.56 billion fraud.
