Man Sentenced to 7 Years for ₦81.3M Sterling Bank Fraud
Ojora Sulaiman Kehinde has been sentenced to seven years in prison for fraudulently converting ₦81.3 million from Sterling Bank Plc. Justice Mojisola Dada ruled that Kehinde had dishonestly converted the funds with clear intent to permanently deprive the bank of its property.
Kehinde exploited a temporary technical malfunction in Sterling Bank's electronic transfer system to initiate transfers exceeding his account balance. Over time, he carried out a series of similar transfers, moving funds that were never available in his account, totaling ₦178.2 million. The prosecution argued that the essential ingredients of the offence of stealing had been established beyond reasonable doubt.
Despite transferring ₦500,000 to his wife's Gmail account on May 17, 2022, with only ₦3,000 left in his account, there is no publicly available evidence that Amina Ojora, Kehinde's wife, was involved in or benefited from these fraudulent transactions. Sterling Bank was able to recover ₦68 million, but the outstanding ₦89 million remained unaccounted for.
Justice Dada ordered the prosecution to pursue all available legal avenues to ensure the restitution of the outstanding ₦81.3 million to Sterling Bank. Kehinde was convicted and sentenced under Section 280(2), punishable under Section 287 of the Criminal Law of Lagos State, 2015.
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