Ecobank Staff Jailed for Cyber Fraud Involving N2.4 Million
Justice Yellim Bogoro of the Federal High Court in Ikoyi, Lagos, on Monday, sentenced Solomon Ufayo, a staff member of Ecobank Nigeria Plc, to one year imprisonment for cybercrime-related fraud involving N2.4 million.
Ufayo was arraigned by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) on a one-count charge and pleaded guilty.
According to the EFCC, between March 10 and 28, 2025, while working as a relief teller, Ufayo fraudulently posed as a customer, Ogunfodunrin Omowunmi Ajoke, and manipulated her Ecobank account. He allegedly posted fake deposits and processed unauthorized withdrawals totaling N2.4 million, which he then transferred into his personal account in another bank.
The charge read in part:
“That you, Solomon Stephen Ufayo, between the 10th to the 28th day of March, 2025, in Lagos… fraudulently represented yourself as Ogunfodunrin Omowunmi Ajoke by posting false Deposit and Withdrawal Tellers on her Ecobank account… with intent to gain advantage for yourself… contrary to Section 22(2)(b)(i) of the Cybercrime (Prohibition, Prevention etc.) Act, 2015.”
During proceedings, EFCC operative David Gajere told the court that Ufayo had made a confessional statement and returned the stolen sum through a bank draft as restitution.
In a plea for leniency, Ufayo cited financial hardship and the recent birth of his child while he was in custody.
“I was still in custody when my wife delivered the baby. I have learnt my mistakes now,” he told the court.
Justice Bogoro sentenced him to one year in prison with an option of a N500,000 fine and ordered him to complete two weeks of community service.
