By Wealth Oghenemaro
Ecobank Nigeria is facing public criticism after one of its employees, Solomon Stephen Ufayo, was convicted for cybercrime involving the theft of N2.4 million from a customer’s account.
Justice Yellim Bogoro of the Federal High Court in Ikoyi, Lagos, delivered the judgment on Monday, sentencing Ufayo to one year imprisonment. The court, however, gave the convict an option of a N500,000 fine and also directed him to complete two weeks of community service.
Ufayo, who worked as a Relief Teller at Ecobank, was brought before the court on May 16, 2025, by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC). He faced a one-count charge related to cybercrime.
According to the EFCC, between March 10 and 28, 2025, Ufayo impersonated a customer, Ogunfodunrin Omowunmi Ajoke, and manipulated her account by initiating fake deposit and withdrawal transactions. He fraudulently posted fake teller entries and transferred a total of N2,404,000 to his own Opay account without her consent.
The charge against him stated: “That you, Solomon Stephen Ufayo, between the 10th to the 28th day of March, 2025, in Lagos, while working for Ecobank Nigeria Limited as a Relief Teller, fraudulently represented yourself as Ogunfodunrin Omowunmi Ajoke by posting false deposit and withdrawal tellers on her Ecobank account (No. 2801086259), with intent to gain advantage for yourself, thereby committing an offence contrary to Section 22(2)(b)(i) of the Cybercrime (Prohibition, Prevention, etc) Act, 2015 and punishable under Section 22(2)(b) of the same Act.”
Ufayo pleaded guilty when the charge was read out. The EFCC, represented by counsel Abdulhamid L. Tukur, presented evidence through an operative, David Ngale Gajere, who revealed that the accused had voluntarily confessed and returned the full amount in question via a bank draft.
While appealing for leniency, Ufayo told the court that he acted out of financial desperation due to his wife’s pregnancy. He expressed remorse and promised to turn a new leaf.
Taking into account his guilty plea, the restitution made, and his expression of remorse, Justice Bogoro imposed the one-year jail term, but allowed for a fine and community service in lieu of full incarceration.
