Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
A Kaduna State High Court has sentenced two former bank officials to seven years imprisonment each for stealing N7.8 million from customer accounts. The judgement, delivered by Justice A.A. Bello on Thursday, May 21, 2026, followed separate one-count charges brought against Obadofin Daniel Bamise and Hadiza Oyiza Yakubu by the Kaduna Zonal Directorate of the Economic and Financial Crimes Commission (EFCC). Both convicts were former employees of a new generation bank and were found guilty of conspiracy and theft after a full trial.
The case dates back to 2021 when the EFCC received a petition from a customer who discovered an unauthorised debit of N7.8 million from his account. Investigation revealed that the fraud was an inside job. Mr Bamise, who worked in the bank's operations department, allegedly accessed the customer's account details and initiated a series of fraudulent transfers. Mrs Yakubu, who served as a teller, reportedly approved the transactions despite knowing they were unauthorised. According to EFCC prosecutor, Mr S.O. Adeyemi, the convicts conspired to transfer the funds into accounts they controlled, from which they made cash withdrawals and proceeded to share the proceeds.
During the trial, the prosecution presented documents, including the customer's statement of account, internal bank memos that identified unusual activity, as well as sworn statements from bank officials. They also called four witnesses, including the investigating police officer. The defence argued that the transactions had been authorised by senior management and that the defendants were not aware the monies were stolen. However, the court dismissed this line of argument, saying that basic bank policy requires two separate personnel to approve any transfer and that the convicts bypassed the mandatory approval hierarchy. Justice Bello noted that their actions had violated the public's trust in the banking system.
In his judgement, Justice Bello stated that the prosecution had proven its case beyond a reasonable doubt. He held that by deliberately routing the stolen money through personal accounts and failing to keep any record or seek any management waiver, the convicts were clearly not following any legitimate bank policy. The court convicted both defendants on the one‑count charge of criminal breach of trust and cheating, offences punishable under the Penal Code. “The convicts took advantage of their positions to defraud an unsuspecting customer who had entrusted the bank with his hard‑earned money. Their actions were premeditated and calculated to cause financial loss,” the judge declared.
While handing down the sentence, Justice Bello rejected pleas for leniency made by defence counsel, who described the convicts as first‑time offenders and family breadwinners. The judge noted that the amount stolen was significant and that the crime of insider fraud undermines the financial sector. The convicts were sentenced to seven years imprisonment each with an option of a fine. They are to pay back the stolen N7.8 million or have their properties forfeited to the state. The sentences will run concurrently from the date of arrest.
The judgement comes barely a week after the EFCC secured the conviction of four internet fraudsters in Kaduna, and three months after another former banker was jailed in the state for N50 million fraud. The Kaduna Zonal Command of the EFCC, under its current leadership, has stepped up its campaign against financial crimes, especially those involving bank employees. Speaking to reporters after the court session, the EFCC lead counsel, Mr Adeyemi, said the conviction serves as a warning to bank officials who may be tempted to abuse their access to customer funds. “The era of treating insider fraud as a minor offence is over. The EFCC will ensure that any bank worker who steals customer money will not only lose his job but also his freedom,” he said.
Customers of the affected bank have welcomed the judgement, but many remain concerned about weak internal controls in the banking industry. A customer, who gave his name simply as Aliyu, told journalists outside the court, “This is good news. But it is also a wake‑up call. If two people can steal N7.8 million so easily, imagine how much is being stolen in bigger operations. The banks should be held responsible, not just the individuals.” The bank has yet to issue a statement on the judgement or disclose whether it has changed its approval policies since the fraud occurred.
For Obadofin Daniel Bamise and Hadiza Oyiza Yakubu, the sentence brings an end to a legal battle that began four years ago. The N7.8 million they stole has not been recovered, but the court has ordered that it be refunded. Their lawyers have indicated they will appeal the judgement. However, legal analysts say that given the weight of evidence and the judge's reasoning, an appeal is unlikely to succeed. As the two convicts were led away to the correctional centre, the lesson for the banking industry was clear: the person authorised to approve a transaction is also the person who can be prosecuted for it.
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