A banker has landed in jail after he was convicted on stealing 700 million Naira from his bank.

Nsa Ayi, a former relationship officer, at Coronation Merchant Bank, was sentenced to seven years imprisonment after he was found guilty of diverting clients 700 million Naira meant for Federal Government bonds, treasury bills and fixed deposits.

He was sentenced on Friday by Justice Mojisola Dada of the Lagos State High Court, Ikeja, Lagos. 

The convict, who was arraigned by the Economic and Financial Crimes Commission, EFCC on February 26, 2018, on an 11-count charge, was accused of altering instructions and falsifying signatures of customers to transfer money into various accounts outside the bank.

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The money was allegedly transferred in tranches into his Guaranty Trust Bank Account No. 0001600855 as well as his Zenith Bank Account No. 1002771899.

Delivering her judgment on Friday, the judge sentenced him to seven years imprisonment on each count of the charge. The sentences are to run concurrently from the day of arrest.

The Judge further held that all property traced to the defendant be confiscated till it amounts to the sum of 700 million Naira and should be restituted to the plaintiff, Coronation Merchant Bank.

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