Relief may have come the way of former Financial and Retail Product Manager with Wema Bank Nigeria Plc, Samuel Asiegbu, who chose to serve a three-year prison term rather than refund the ₦8.56 billion he hacked and stole from the bank.
According to P.M. Express, Justice Rahman Oshodi of the Lagos State Special Offences Court, Ikeja, found Asiegbu guilty and sentenced him accordingly—without the option of a fine. The ruling means Asiegbu will serve his prison term and walk free afterward with his illicit wealth untouched.
Asiegbu was convicted after pleading guilty to an eight-count charge bordering on conspiracy, fraud, and unauthorized access to Wema Bank’s computer systems, offences contrary to Sections 409 and 386 of the Criminal Law of Lagos State, 2011.
The Economic and Financial Crimes Commission (EFCC) arraigned Asiegbu alongside Hamza Zakaria, Nurudeen Ibrahim, and Alhaji Sulaiman for allegedly manipulating the bank’s internal systems in January 2025, resulting in losses exceeding ₦8.5 billion.
Initially, all four defendants pleaded not guilty, but Asiegbu later changed his plea, leading to his conviction. Justice Oshodi sentenced him to 10 months and 8 days for count three and 1 year and 8 months for count four—both sentences to run concurrently and without an option of fine.
The court, however, struck out counts one and two, while the trial of the remaining defendants is expected to begin on November 14, 2025.
SOURCE: Pgsnewsonline
