Justice K.A. Jose of the Lagos State High Court in Tapa, Lagos, has sentenced five people to seven years in prison each for their roles in a N117.7 million fraud involving Chi Limited.
The Economic and Financial Crimes Commission (EFCC) announced this in a statement on X on Friday.
The convicts are Yinka Salawu, Joshua Oluremi Daramola, Raji Ahmed, Afolabi Israel Olusegun, and Muraina Olanrewaju Abdullahi.
They were charged by the Lagos Zonal Directorate 1 of the EFCC with six counts that include conspiracy to obtain money by false pretence, obtaining money by false pretence, and forgery.
One of the charges claimed that the defendants got N81,359,922 from Chi Limited in 2009 by pretending that the money was for goods and services supplied to the company.
During the trial, the prosecution called 17 witnesses from the EFCC, Nigeria Police Force, banks, and Chi Limited. They also presented several documents as evidence.
At the end of the trial, Justice Jose found the first, fourth, fifth, sixth, and seventh defendants guilty on Counts One, Two, and Three, convicting them accordingly.
The second, third, and eighth defendants were cleared of charges and released.
After the convictions, the prosecution lawyer, M.S. Owede, asked the court to apply Section 11 of the Advance Fee Fraud and Other Fraud Related Offences Act. He wanted the convicts to repay Chi Limited N117,755,061, which is the amount in Counts Two and Three.
Owede also requested that the court sell properties owned by the first convict and use the money to pay Chi Limited or, alternatively, for the properties to be given to the company.
Justice Jose ruled that each of the five convicts would serve seven years in prison without an option for a fine.
"The convicts will be given credit for the time they have already spent in custody. All time served will be deducted from the seven-year sentences imposed by the court," the judge stated.
Regarding restitution, Justice Jose relied on Section 297 of the Administration of Criminal Justice Law. She ordered the convicts to return the amounts stated in the charges to Chi Limited.
"All money already paid will be taken off the amounts to be refunded," she added.
The EFCC said the case started after the convicts were arrested for the alleged N81.3 million fraud.
According to the commission, the money was taken from Chi Limited by falsely claiming it was for goods and services provided to the company.
The EFCC confirmed that the goods and services were never delivered, and the money was not returned to Chi Limited.
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