Court Convicts Ex-Banker for Fraud

The Economic and Financial Crimes Commission, EFCC, Kano Zonal Office, on Monday, July 22, 2019 secured the conviction of one Loretta Bayei before Justice Dije Aboki of the Kano State High Court.


Loretta was arraigned on July 14, 2017 on a five count charge bordering on conspiracy and theft.

Loretta's journey to the prison started when her former employer, United Bank for Africa, UBA, petitioned the EFCC alleging an offence of conspiracy and theft to the tune of N38,501,732.05 (Thirty Eight Million Five Hundred and One Thousand Seven Hundred and Thirty One Naira Five Kobo) but in the course of the investigation, N12,800,000 (Twelve Million Eight Hundred Thousand Naira) was traced to her.

Count one of the charge reads: ''That you Loretta Bayei, Bolanle Ajoke Shogbesan (at large) and Adekunle Rusenwe (at large) between the 10th August to 17th October, 2015 in Kano within the jurisdiction of the High Court of Kano State did agree between yourselves to do an illegal act, an offence punishable under section 97 of the Penal code.”

Loretta pleaded not guilty to the charges which prompted her trial.

In the course of the trial, Prosecution Counsel Musa Isah presented four witnesses and tendered eleven exhibits which made her change to a guilty plea.

In view of her new plea, Musa Isah urged the court to convict and sentence her person as charged.

Defence counsel, B.P Achi, however, prayed the court to be lenient in sentencing the defendant.

While delivering his judgement, Justice Dije Aboki sentenced the convict to six months in prison for count one, two years in prison for count two, 18 months in prison for count three, 12 months in prison for count four and nine months in prison for count five. The judge said the sentence should serve as a lesson to the public that crime does not pay.

The sentences are to run concurrently and she is to restitute the bank of N11,150,000 (Eleven Million One Hundred and Fifty Thousand Naira) or addition 18 months in prison.