The Economic and Financial Crimes Commission (EFCC) has recorded a major victory in its ongoing war against economic crimes, with the conviction of Hannah Okunlola Adesokan, one of seven defendants standing trial for their alleged involvement in an ₦8.5 billion fraud linked to a first-generation bank.
The Lagos Zonal Directorate 1 of the EFCC secured the conviction on Thursday, July 3, 2025, before Justice Daniel Osiagor of the Federal High Court in Ikoyi, Lagos. Initially pleading not guilty, Adesokan dramatically changed her plea to guilty after being re-arraigned on an amended charge.
According to the court, Adesokan fraudulently retained control of ₦4.5 million, part of ₦199 million that was illicitly funneled into her account from cybercrime operations. The money was deposited into a UBA account under the name Search Light Media Concept.
Upon reviewing the evidence presented by EFCC counsel Fanen Anum, including the bank’s petition, her account statements, and her written confession, Justice Osiagor sentenced her to six months in prison with an option of ₦250,000 fine. The court also ordered the forfeiture of the ₦4.5 million recovered from her to the Federal Government in favour of the affected bank.
While Adesokan’s conviction marks progress in the Lagos case, another fraud matter unfolded simultaneously in Kaduna, where a couple, Aisha Musa and Farouk Anas, was arraigned before Justice A. Isyaka of the Kaduna State High Court for allegedly defrauding a buyer of ₦10 million** in a phony land transaction.
The EFCC told the court that the couple falsely claimed to have purchased a parcel of land in Birni Yero, Kaduna, and sold it to one Jamilu Buhari under the pretense of legitimate ownership. However, a petition from the legal firm Aysha Ahmed & Co, on behalf of the true owner, revealed the transaction was fraudulent.
The defendants pleaded not guilty. While the EFCC pushed for a trial date and their remand, defence counsel Frank Akhareghemen requested bail. The judge adjourned the case to July 24, 2025, for ruling on bail and ordered their remand in custody.
As Nigeria’s anti-corruption agency continues to tighten the noose on financial criminals, these cases highlight the critical need for due diligence in financial and property dealings.
For continuous coverage of anti-corruption efforts and court proceedings across Nigeria, visit fasnewsng.com, where truth meets justice.
By Fikunmi Sokoya
pgbclsxvk erluu htcrkcf xxzd bkfueuwixseusrf