A Lagos State Special Offences and Domestic Violence Court sitting in Ikeja has sentenced a 64-year-old former Lagos State education director, Olawale Solomon Feleti, to two years and five months’ imprisonment for stealing N48,992,271.73.
Justice Rahman Oshodi convicted and sentenced Feleti after finding him guilty on a five-count charge of stealing preferred against him by the Economic and Financial Crimes Commission (EFCC).
The prosecution counsel, Mr A. M. Dambuwa, told the court that the convict dishonestly converted the sum of N48,992,271.73 belonging to Access Bank Plc.
According to the EFCC, Feleti exploited a glitch during the COVID-19 pandemic in 2020 to gain unauthorised access to the bank’s credit card system, withdrawing not less than N43,000 per transaction and dishonestly converting a total of about N48 million.
The commission said that between July 2 and July 10, 2020, Feleti, with intent to defraud, dishonestly converted N12,528,598.00 to his personal use, as well as N6,808,480.00 on May 22, 2020, and July 1, 2020, all properties of Access Bank Plc.
The EFCC said the offences were contrary to and punishable under Section 287(1)(a) of the Criminal Law of Lagos State, 2015.
Delivering judgment, Justice Oshodi held that Feleti’s criminal conduct was calculated, noting that he made multiple withdrawals despite knowing that he had no authorisation to do so.
The judge further held that the convict showed no genuine remorse and failed to accept responsibility for his actions.
He therefore found Feleti guilty on all five counts and sentenced him to two years and five months’ imprisonment on each count, with the sentences to run concurrently.
Justice Oshodi also ordered Feleti to make restitution of N3 million to the court and N45,991,271.73 to the nominal complainant, Access Bank Plc.
The judge added that if the convict makes full restitution to the bank, Access Bank Plc should formally notify the court. He also imposed a fine of N5 million, noting that the convict could benefit from a non-custodial sentencing option upon compliance.
The court ruled that the custodial sentence would commence on January 5, 2026, at the Maximum Security Facility, and ordered that Feleti’s name be entered into the Lagos State offenders’ registry maintained by the Lagos State Judiciary.
