News

November 4, 2016

Former banker to spend 195 years in jail for theft

By AbdulSalam Muhammad

KANO—A Kano High Court has sentenced a former staff of a second generation bank, Aliyu Suleiman, to 195 years imprisonment.

The convict was arraigned by the Economic and Financial Crimes Commission, EFCC, in 2014, for allegedly stealing over N21 million from Albasu Microfinance Bank.

Upon his arraignment, the convict pleaded not guilty to all the charges brought against him by the EFCC.

In her judgment, Justice Aboki sentenced the convict to serve two years on each for count one to 44 and fine of N300,000 on each.

The court declared that “where the convict defaults the fine, he is to serve additional six months imprisonment on each count.”

From count 45 to 74, the convict was sentenced to a fine of N500,000 or 12 months imprisonment on each count, while on count 75 to 105, he is to pay a fine of N200,000 or 12 months imprisonment on each count with the exception of count 97, which appeared to be duplication.

The sentences were to run concurrently.

The convict was also ordered to refund N14,815,000 million to the Albasu Community or spend five more years in prison.