A Lagos State Special Offences Court sitting in Ikeja has convicted former banker Christopher Jackson Edeh over a ₦2.7 billion fraud involving the alleged manipulation of bank account details belonging to government institutions and private organisations.
Justice O.O. Abike-Fadipe found Edeh guilty on all nine charges brought against him by the Economic and Financial Crimes Commission (EFCC), including fraudulent false accounting and unauthorised access to a computer system.
Although the sentences imposed by the court amount to 39 years when added together, the judge directed that they run concurrently. This means Edeh will serve a maximum of five years in prison under the judgment.
The EFCC announced the conviction in a statement issued on Tuesday, October 27, 2026.
HOW THE ₦2.7 BILLION FRAUD WAS CARRIED OUT
According to the anti-graft agency, Edeh was accused of manipulating customer account information while working with Fidelity Bank Plc.
The case centred on alleged unauthorised access to the bank’s Entrust portal, which prosecutors said was used to alter account details and facilitate fraudulent activities.
The EFCC alleged that the transactions involved approximately ₦2.738 billion and affected accounts associated with several corporate customers and public institutions.
Among the organisations identified in the case were NNPC Trading Limited, Dangote Cement Plc, the Kano State Government Power Intervention Fund, the Lagos State Government Blue Line project, Stallion Vision Limited, the State Contributory Pension Account and Chukwuemeka Odumegwu Ojukwu University.
The prosecution maintained that the alterations were carried out with the intention of facilitating fraud.
COURT IMPOSES PRISON SENTENCES ON NINE COUNTS
During the trial, prosecuting counsel Z.B. Atiku presented three witnesses and submitted documentary evidence to support the EFCC’s case. The defence called one witness.
After considering the evidence, Justice Abike-Fadipe ruled that the prosecution had established Edeh’s guilt beyond reasonable doubt.
The court imposed five years’ imprisonment without an option of fine on each of the first seven counts, which concerned fraudulent false accounting.
For the remaining two counts, relating to unauthorised access to a computer system to facilitate criminal activity, the judge handed down two years’ imprisonment on each count, also without an option of fine.
While the individual terms add up to 39 years, the order that they run concurrently means the sentences will be served at the same time, limiting the effective prison term to five years.
HOW THE CASE BEGAN
The case followed allegations that Edeh manipulated account details belonging to bank customers and government-related organisations in September 2023.
He was arraigned before the Lagos State Special Offences Court on February 28, 2024, and pleaded not guilty to the charges, leading to a full trial.
The prosecution subsequently presented its witnesses and documentary evidence to establish the alleged account manipulation and unauthorised access to the bank’s computer system.
The defence also presented its case before the court delivered its judgment.
CONVICTION HIGHLIGHTS RISKS OF BANKING SYSTEM ABUSE
The case has drawn attention to the risks posed by the misuse of internal access privileges within financial institutions, particularly where employees can access systems containing sensitive customer and government account information.
The alleged manipulation of account records involving public infrastructure projects and corporate funds also highlights the importance of effective banking controls, transaction monitoring and independent verification of changes to account details.
For the EFCC, the conviction represents another prosecution involving alleged financial misconduct within Nigeria’s banking sector.
The judgment reinforces the legal consequences of fraudulent accounting and unauthorised access to computer systems when the prosecution establishes the offences in court.
The case also underscores the importance of protecting public funds and corporate assets through stronger financial oversight and secure banking procedures.
