A former director in the Lagos State Ministry of Education, Olawale Faleti, has been sentenced to prison over the theft of nearly N49 million from Access Bank, following his conviction by a Lagos court.
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The judgment was delivered on Monday by the Ikeja Special Offences and Domestic Violence Court, where Faleti was found guilty of multiple counts of stealing filed by the Economic and Financial Crimes Commission.
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The case centered on how the 64-year-old official unlawfully accessed and withdrew funds from the bank during the COVID-19 period in 2020, using a credit card he was not permitted to operate.
The court found that the withdrawals were not accidental but carried out repeatedly over a period of time, showing clear intent and abuse of access, despite Faleti knowing he had no authority over the funds.
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Based on the scale and pattern of the offence, the judge ruled that a prison sentence was unavoidable, even though Faleti had no previous criminal record, and ordered him to serve two years and five months in jail.
In addition to the jail term, the court directed Faleti to refund the remaining N45.9 million to Access Bank and ordered his details to be entered into the Lagos judiciary offenders register, with the sentence set to take effect from January 5, 2026.
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