Economic and Financial Crimes Commission (EFCC) has secured the conviction of Janet Theophilus Danjuma, a bank employee, for defrauding an investor of N22,350,000 through a bogus investment scheme in Kano.
Danjuma was convicted on Monday, by Justice S. M. Shuaibu of the Federal High Court, Kano Division, and sentenced to five years’ imprisonment without the option of a fine.
The defendant, a staff member of Taj Bank Limited, Nai’bawa Branch, was arraigned on a one-count charge bordering on obtaining money by false pretence.
According to the charge, Danjuma, sometime in October 2024 in Kano, dishonestly obtained N22,350,000 from one Wade Bamaiyi under the guise of investing the funds in Taj Bank’s CASA (Current Account Savings Account) programme.
The charge stated: “Janet Theophilus Danjuma, being a staff of Taj Bank Limited, Nai’bawa Branch Kano, sometime in October 2024 in Kano, within the jurisdiction of this Honourable Court, with intent to defraud, did obtain the sum of N22,350,000 from Wade Bamaiyi under the pretext that the money would be invested in CASA Programme of Taj Bank Limited, which pretext you knew to be false and thereby committed an offence contrary to Section 1(1)(b) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.”
She pleaded guilty when the charge was read to her.
Sadiq Huseini, prosecuting counsel, while reviewing the facts of the case, told the court that the defendant exploited the name of a legitimate banking product to gain the confidence of her victim.
“The defendant used her position as a bank staff and the credibility of an existing financial product to deceive the complainant into parting with N22,350,000,” Huseini said. “Investigation traced the entire sum to her personal account.”
He urged the court to convict and sentence her in accordance with the law, arguing that the offence undermined public trust in the financial system.
In his ruling, Justice Shuaibu convicted Danjuma based on her guilty plea and sentenced her to five years’ imprisonment without an option of fine.
The EFCC said the conviction followed investigations which revealed that the so-called investment scheme was non-existent and that the funds were diverted for personal use.
