Banker Who Stole N30m From Dead Customer Gets 39 Years Jail Term


A Lagos State High Court, lead by Justice Oluwatoyin Ipaye, on Thursday sentenced one Olawale Garuba to 39 years imprisonment for stealing from a dead customer.

The convict was arraigned alongside six others in July 2015 for conspiring among themselves to steal over N30 million from the bank account of a deceased customer of a new generation bank, where the convict works.

The fraud was uncovered by the bank when they discovered that some of their staff, including the convict, had connived with proxies to steal from a dormant account of one of the bank’s customers.

The bank, after discovering the fraud committed, apprehended the staff and handed them over to the Economic and Financial Crimes Commission for investigation and prosecution.

Upon their arraignment, they pleaded not guilty to 18 counts of fraud.

Subsequently, Justice Ipaye refused their bail application and remanded them in prison custody.

However, on June 2, 2016, the convict changed his plea from not guilty to guilty.

He was immediately convicted by Justice Ipaye, who adjourned the case to Thursday for sentencing.

The Counsel representing the convict, O. Ajanaku, pleaded with the court to temper justice with mercy in sentencing his client.

Ajanaku told the court that his client was a remorseful first time offender with a young wife and two little children.

The Prosecution Counsel, Abba Mohammed, urged the court to consider the three way traffic, while tempering justice with mercy.

That is the interests of the court, the victim and the convict.

After listening to the prayers of counsel, Justice Ipaye said despite the remorse of the convict, she has no sympathy for him as he compromised his position as a banker to steal from a deceased customer whose money would have been used by the family she left behind.

She added that the convict allowed his greed to overcome him and risk losing the job that thousands of job seekers are craving to get.

She found the convict guilty on 13 of the 18 counts and sentenced him to three years imprisonment on each count.

The sentences are to run concurrently from the date of his first detention, which was July 24, 2015.


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