Ex-JAMB Official Sentenced to Five Years for Forgery and Loan Fraud

Ex-JAMB Official Sentenced to Five Years for Forgery and Loan Fraud

In a landmark ruling, the Oyo State High Court in Ibadan has sentenced Olayiwola Oguntade, a former official of the Joint Admission Matriculation Board (JAMB), to five years imprisonment for forgery and loan fraud. The Economic and Financial Crimes Commission (EFCC) successfully prosecuted Oguntade, proving his guilt beyond a reasonable doubt.



Background of the Case

Oguntade, who was a member of the Finance and Accounts Department at JAMB, was found guilty of forging a Local Purchase Order (LPO) and a Letter of Domiciliation to secure a N10 million loan from Polybadan Microfinance Bank. This fraud was carefully orchestrated to deceive the bank into believing that Oguntade was executing a legitimate contract for internet services on behalf of JAMB.


How the Fraud Was Carried Out

The court heard that Oguntade gave the forged documents to his friend, K. Ola Al-Amin, who then presented them to the bank in his own name. Al-Amin, unaware of the fraud, assisted Oguntade by transferring the money to three different companies' bank accounts provided by Oguntade. These companies were allegedly involved in the purported internet services contract, adding another layer of deception to the scheme.


Court Proceedings and Judgment

Justice Bayo Taiwo delivered the judgment on January 28, 2025, emphasizing that the prosecution had met its burden of proof. The court found Oguntade guilty of forgery, advance fee fraud, and obtaining money by false pretence. He was sentenced to five years in prison without the option of a fine.



During the proceedings, several key pieces of evidence were presented, including the forged documents and testimony from bank officials who were misled by Oguntade's fraudulent scheme. The meticulous work of the EFCC investigators played a crucial role in unraveling the complexities of the case and ensuring that justice was served.

This case highlights the ongoing battle against corruption and financial crimes in Nigeria. The EFCC's relentless pursuit of justice serves as a deterrent to others who might consider engaging in similar fraudulent activities. It also underscores the importance of stringent internal controls and vigilant oversight within financial institutions to prevent such fraudulent activities.

Nigeria has been grappling with corruption and fraud across various sectors, and cases like this demonstrate the country's commitment to combating these issues. The successful prosecution of Oguntade sends a strong message that no one is above the law, and that those who engage in fraudulent activities will be held accountable.

The EFCC, established in 2003, has been instrumental in investigating and prosecuting financial crimes in Nigeria. The agency's efforts have led to numerous high-profile convictions, contributing to the country's broader anti-corruption strategy.

The sentencing of Olayiwola Oguntade marks a significant victory in Nigeria's fight against corruption. As the country continues to strengthen its legal and institutional frameworks, cases like this serve as a reminder of the importance of integrity, transparency, and accountability in all sectors. The collaborative efforts of law enforcement agencies, the judiciary, and financial institutions are essential in building a corruption-free society.

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