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Justice Rahman Oshodi of the Special Offences Court, Ikeja, Lagos, has sentenced Samuel Asiegbu to three years in prison without an option of a fine for his role in an ₦8.56 billion fraud involving Wema Bank Plc.
Asiegbu was charged alongside Hamza Zakaria, Nurudeen Ibrahim, and Alhaji Sulaiman (currently at large) on a four-count charge of conspiracy, theft, and unauthorised access to a computer system, filed by the Economic and Financial Crimes Commission (EFCC).
The defendants were first arraigned on June 23, 2025, and all pleaded not guilty. However, Asiegbu later changed his plea to guilty, leading the court to convict and sentence him, while the trial continues for the others.
According to the EFCC, the defendants, sometime in January 2025, conspired and illegally accessed Wema Bank’s computer systems to steal ₦8,568,090,500 from accounts domiciled in the bank.
The prosecution stated that the offences violated Sections 409 and 386 of the Criminal Law of Lagos State, 2011.
In his judgement, Justice Oshodi sentenced Asiegbu to 10 months and eight days’ imprisonment on count three and one year and eight months on count four, both without an option of a fine.
The judge ruled that the sentences would run concurrently, amounting to three years’ imprisonment, and struck out counts one and two.
The matter was adjourned to November 14, 2025, for the continuation of the trial against the remaining defendants.
