RismadarVoice Reporters, February 26, 2026
Justice O.A. Fadipe of the Lagos State High Court sitting in Ikeja has convicted and sentenced Adebisi Ridwan Ayodeji to 18 months imprisonment for defrauding Sterling Bank Plc of N30 million.
Ayodeji was prosecuted by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, on a one-count charge bordering on stealing.
The convict was initially arraigned before Justice Oluwatoyin Taiwo before the case was reassigned to Justice Fadipe, where he was re-arraigned and the trial commenced de novo on March 3, 2023.
The charge stated that Ayodeji, on September 15, 2021, in Lagos, fraudulently converted to his own use the sum of N30,000,000, property of Sterling Bank Plc.
He pleaded “not guilty” to the charge, prompting a full trial.
During the proceedings, prosecution counsel, S.I. Suleiman, called three witnesses and tendered several documentary exhibits, which were admitted in evidence by the court.
In his judgment delivered on Tuesday, Justice Fadipe found the defendant guilty and sentenced him to 18 months imprisonment on the one-count charge.
The court also ordered the convict to make restitution in the sum of N23,677,107.05, representing the outstanding balance owed to the petitioner, in addition to serving the custodial sentence.
