A Lagos State Special Offences and Domestic Violence Court has sentenced 64-year-old former education director Olawale Solomon Feleti to two years and five months’ imprisonment for stealing N48,992,271.73 from Access Bank Plc.
Justice Rahman Oshodi found Feleti guilty on five counts of stealing prosecuted by the Economic and Financial Crimes Commission (EFCC).
The EFCC established that Feleti exploited a system glitch in Access Bank's credit card platform during the 2020 COVID-19 pandemic, making repeated unauthorised withdrawals of at least N43,000 each, totalling nearly N49 million for personal use.
Charges detailed conversions including N12,528,598 between July 2–10, 2020, and N6,808,480 on other dates in May and July 2020.Describing the acts as “calculated,” Justice Oshodi noted Feleti’s lack of remorse and refusal to take responsibility.
The sentences, two years and five months per count will run concurrently, starting January 5, 2026, at a maximum security facility.
The court ordered restitution of N3 million to the state and N45,991,271.73 to Access Bank, plus a N5 million fine.
Full restitution could qualify Feleti for non-custodial measures.Feleti’s name will also be added to the Lagos State offenders’ registry.
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