Banker jailed 195 years for N21m fraud

Aliyu Suleiman, a micro-finance bank manager, has been sentenced to 195 years imprisonment for stealing N21 million.

A Kano high court, presided over by Dije Abdu Aboki, passed the verdict on Friday and ordered the convict to refund N14,815,000 to Albasu community, owners of the micro-finance bank.

Suleiman was arraigned by the EFCC on the September 30, 2014 but he pleaded not guilty to all the 105 counts brought against him.

In her judgment, Aboki sentenced the convict to serve two years on each of counts 1 to 44 and fined him N300,000 for each.

She ruled that where the convict defaults, he will serve additional six months imprisonment on each count.

From counts 45 to 74, the convict was fined N500,000 or 12 months imprisonment on each count while on counts 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 will run concurrently, meaning he will serve a maximum of two years.

He was further ordered to restitute N14,815,000 to the Albasu community or spend five more years in prison.

The convict was with Oceanic Bank before he was engaged by the community to take charge of their micro-finance Bank.

He siphoned over N21 million by forging signatures of the other signatories to the funds.