A former employee of the Joint Admission and Matriculation Board (JAMB) in Ibadan, Oyo State, Olayiwola Oguntade, has been convicted and sentenced to prison for defrauding Polybadan Microfinance Bank of N10 million.
Oguntade was arraigned by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on October 13, 2020, on a three-count amended charge, bordering on forgery, advance fee fraud, and obtaining by false pretence. He pleaded “not guilty” to the charges, prompting a four-year trial.
Count one of his reads:“That you, Olayiwola Oguntade sometimes in 2010 at Ibadan within the jurisdiction of this Honourable Court with intent to defraud obtained the sum of N10,000,000.00 (Ten Million Naira) only, by false pretence through Kola Al-Amin from Polybadan Microfinance Bank Ltd and thereby committed an offence of obtaining money by false pretence, contrary to Section 1 (i)(b) and 1 (3) of the Advance Fee Fraud and Other Related Offences Act, 2006.”
Count two reads: “That you, Olayiwola Oguntade sometimes in 2010 within the jurisdiction of this Honourable Court forged an LPO titled: Re: Supply of Internet Services, purported to have been issued by the Joint Admissions and Matriculation Board (JAMB) dated 15th October, 2010 with Ref No. JAMB/FIN/282/Vol.4/445 and thereby committed an offence of Forgery, contrary to Section 467 of the Criminal Code Law Cap 38, Laws of Oyo State, 2000.”
During the trial, prosecution counsel, Oyelakin Oyediran and Lanre Suleiman, called 10 witnesses and tendered several incriminating documents against Oguntade, which were admitted in evidence. The prosecution urged the court to convict and sentence him accordingly.
In his judgment on January 28, 2025, Justice Taiwo held that “the prosecution has proved its case beyond reasonable doubt, and the court is convinced that the defendant is guilty of the offences filed against him by the EFCC.” Oguntade was convicted and sentenced to five years imprisonment without an option of fine.
The convict, a former member of staff of the Finance and Accounts Department of JAMB, forged a Local Purchase Order (LPO) and Letter of Domiciliation to obtain a loan of N10 million from Polybadan Microfinance Bank under the false pretence of executing a contract awarded to him by JAMB for the provision of internet services.
Oguntade gave the forged documents to a friend, K. Ola Al-Amin, who is a customer of the Microfinance bank, to help him present them to the bank. Deceived by the convict, Al-Amin secured the loan with the forged documents and also helped Oguntade transfer the sum to three different companies’ bank accounts.
Investigations revealed that Oguntade had earlier issued forged LPOs to these companies and had to defraud Polybadan Microfinance Bank of the N10 million to pay back the loans he also fraudulently obtained from them.Oguntade’s journey to the Nigerian Correctional Center began when his fraudulent activities were uncovered, leading to his conviction and sentencing.
The EFCC’s efforts in combating fraud and bringing perpetrators to justice have been highlighted in this case, serving as a deterrent to others who may engage in similar activities.
Source : https://prnigeria.com/
