Justice Joyce Abdulmaleek of the Federal High Court, Ibadan, Oyo State on Friday sentenced one Ademola Adedapo, to 10 years in prison for defrauding the Central Bank of Nigeria (CBN) of N8 billion.
The judge held that Adedapo was convicted based on a plea bargaining agreement he entered into with the Economic and Financial Crimes’ Commission (EFCC).
The judge said that the court found Adelapo guilty of the five charges brought against him by the EFCC based on the agreement.
“Adedapo is hereby sentenced to two years in prison for each of the offence of conspiracy and the sentence commences from Feb. 7, 2015.
“The property mentioned in the plea bargain as stated therein which include; hectares of land, car, building and the over N44 million found in his account, will all be forfeited to the Federal Government of Nigeria.
“His International passport shall be seized until he completes his jail terms and the jail terms are to run concurrently,” Abdulmaleek said.
Mr Y.A.H. Ruba, the defence counsel, had pleaded with the court to temper justice with mercy on his client.
The convict was charged along with four others who did not subscribe to the plea bargain.
The four had pleaded not guilty and their trial would continue.
They are Kolawole Babalola, Olaniran Adeola, Togun Philip and Afolabi Victor.
The convict and other accused persons have been standing trial since 2015 on multiple charges.
The charges border on conspiracy, stealing, forgery and recirculation of currencies totaling N8 billion at the Ibadan branch of the CBN.
