Lagos Banker Pleads Guilty to N70 Million Fraud

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Nsa Nyi in Court
Nsa Nyi in Court
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Lagos Banker Pleads Guilty to N70 Million Fraud

A serial bank fraudster, Nsa Ayi has pleaded guilty to the 10 counts fraud charges filed against him by the Economic and Financial Crime Commission, EFCC.

Nsa Nyi in Court
A serial bank fraudster, Nsa Ayi

At the resume of hearing on Tuesday before justice Mojisola Dada, counsel to EFCC, Rotimi Oyedepo informed the court that witness is in court to give evidence and subject to the overriding convenient of court, the anti-graft agency is ready for trial.

However, the defendant’s counsel, Chief Robert Clark SAN told the court that after close perusal of the prosecution’s proof of evidence, the defendant has decided to plead guilty to the 11 counts charges against him.

Subsequently EFCC embark on review of facts by calling the investigating officer of the case, Tosin Owobo who gave overwhelming evidence about how Ayi forge instructions of Africa Alliance Insurance company as accounting officer and siphoned over N700M.

Justice Mojisola Dada convicted the Mr. Ayi as charged and deferred sentencing till 22nd of March,

Ayo was accused of fraudulent false accounting to the tune of N700, 000, 000.00 (Seven Hundred Million Naira), an offense contrary to Section 335(a) of the Criminal Law of Lagos State of Nigeria, 2011.

The defendant, a former Relationship Officer, Coronation Merchant Bank, allegedly connived with unknown parties to move funds using customers’ electronic instructions meant for investment in the Federal Government of Nigeria (FGN) Bonds, Treasury Bills and Fixed Deposits.

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