A Lagos State High Court has sentenced Adebisi Ridwan Ayodeji to 18 months in prison for defrauding Sterling Bank of ₦30 million.
Ayodeji was prosecuted by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, on a one-count charge of stealing.
He had initially been arraigned before Justice Oluwatoyin Taiwo but was later re-arraigned before Justice O. A. Fadipe, with the trial restarting on March 3, 2023.
Court records show that Ayodeji exploited his position as an employee to manipulate bank accounts and divert funds meant for legitimate business transactions into his personal accounts.
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On September 15, 2021, he allegedly converted ₦30 million belonging to Sterling Bank for his own use.
During the trial, the EFCC presented three witnesses and documentary evidence showing the transfers and unauthorized withdrawals, all of which were admitted by the court.
On February 24, 2026, Justice Fadipe found Ayodeji guilty and sentenced him to 18 months’ imprisonment. The court also ordered him to pay ₦23,677,107.05 in restitution, covering the outstanding balance owed to Sterling Bank.
The verdict highlights ongoing efforts by Nigerian authorities to crack down on financial fraud and hold perpetrators accountable.
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