Lagos State High Court in Ikeja, on Monday, convicted mortgage banker Suleiman Gbajabiamila of defrauding a victim of N31 million through a property transaction.
Judge I. O. Ijelu convicted Mr Gbajabiamila on all seven counts of stealing, forgery, using false documents, obtaining by false pretences and retention of proceeds of crimes brought against him by the Economic and Financial Crimes Commission (EFCC).
The judge sentenced him to various terms of imprisonment ranging from two to seven years, although with varying options of fines totalling N4.7 million.
According to a statement EFCC shared via its X handle on Monday, investigation prompted by a petition from the fraud victim, Lateef Adeyemo, revealed that the petitioner paid N31 million to the convict for a two-bedroom apartment in Lagos in 2021.
The agency said efforts to get the property proved abortive, while Mr Gbajabiamila allegedly converted the proceeds to personal use.
EFCC subsequently arraigned Mr Gbajabiamila before the trial court on 19 September 2023, with one of the charges alleging that he, in 2021 in Lagos, stole and converted N31 million belonging to Mr Adeyemo for his personal use.
In another count, EFCC said Mr Gbajabiamila forged a Sterling Bank manager’s cheque no. 21664497 dated 20 October 2021, valued at N10 million in favour of STB Building Society Limited, with intent to defraud.
He pleaded not guilty to the charges, leading to a full trial.
In the course of trial, the prosecution, led by Abdulhamid Tukur, called two witnesses and tendered several documents, all of which were admitted in evidence against the defendant.
The judge upheld the prosecution’s case in his judgement on Monday, by convicting the defendants on all seven counts.
But before passing sentence, defence lawyer T. E. Gbado asked the court to temper justice with mercy, citing his client’s remorse and status as a first-time offender.
After listening to the defence lawyer’s plea for mercy, the judge sentenced the defendants on each of the counts.
While Ms Ijelu sentenced the convict to five years imprisonment on Count one (stealing), with an option of N1 million fine, she handed him seven years on Count two (obtaining by false pretences) and two years each on Counts three, four, and five (forgery), with the option of N1 million fine on each count.
She also sentenced him to two years on Count six (using false documents), with an option of N200,000 fine; and four years on count seven (retention of proceeds of crime), with an option of N500,000 fine.
Part of larger menace
Mr Gbajabiamila’s case is part of a menace EFCC confronts across many Nigerian major cities.
These are two of the recent ones.
In June 2025, EFCC arraigned Abuja-based real estate developer Rebecca Godwin-Isaac (also known as Bilikisu Ishaku Aliyu) and her husband, Isaac Yusuf, before Judge Joyce Abdulmalik of the Federal High Court in Abuja.
They faced multiple charges, including conspiracy, forgery, obtaining money under false pretenses, and laundering proceeds of unlawful activity.
EFCC alleged that the couple fraudulently acquired and sold plots of land in Guzape and Katampe Districts of Abuja, amounting to over N800 million.
Also, in July 2025, the EFCC arraigned Usman Zakari, the Chief Bailiff of the Gombe State High Court, over the alleged fraudulent conversion of N9.82 million from proceeds of a court-ordered auction. The commission accused Mr Zakari of misappropriating funds from the sale of seized property, which were meant to be remitted to the state treasury.
