EFCC Secures Five-Year Jail Term for Bank Staff Over N22.35m Investment Fraud in Kano

EFCC Secures Five-Year Jail Term for Bank Staff Over N22.35m Investment Fraud in Kano

The Kano Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has secured the conviction and sentencing of Janet Theophilus Danjuma for investment fraud amounting to N22,350,000.

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Danjuma was convicted by Justice S. M. Shuaibu of the Federal High Court sitting in Kano after pleading guilty to a one-count charge bordering on obtaining money by false pretence.

The charge stated that the defendant, a staff member of Taj Bank Limited, Nai’bawa Branch, Kano, fraudulently obtained the sum of N22,350,000 from one Wade Bamaiyi in October 2024 under the false claim that the funds would be invested in the bank’s CASA (Current Account Savings Account) programme. The offence contravenes Section 1(1)(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and is punishable under Section 1(3) of the same Act.

Upon her arraignment on February 16, 2026, the charge was read to her, and she pleaded guilty.

Following the plea, prosecuting counsel Sadiq Huseini reviewed the facts of the case, explaining how the defendant exploited the name of a legitimate financial product to gain the victim’s trust. Investigations by the EFCC revealed that the entire sum was traced to the defendant’s personal account.

Justice Shuaibu subsequently convicted and sentenced Danjuma to five years imprisonment without the option of a fine.

The EFCC reiterated its commitment to prosecuting financial crimes and safeguarding the integrity of Nigeria’s financial system.

EFCC Secures Five-Year Jail Term for Bank Staff Over N22.35m Investment Fraud in Kano