Justice Bayo Taiwo of the Oyo State High Court, Ibadan, has convicted and sentenced Olayiwola Oguntade, a former staff member of the Joint Admissions and Matriculation Board (JAMB), to five years in prison for fraud.
Oguntade was arraigned by the Economic and Financial Crimes Commission (EFCC) on October 13, 2020, on a three-count charge of forgery, advance fee fraud, and obtaining by false pretence amounting to N10 million.
The prosecution established that in 2010, Oguntade forged a Local Purchase Order (LPO) and a Letter of Domiciliation, falsely claiming to have secured a JAMB contract for internet services. Using these forged documents, he obtained a N10 million loan from Polybadan Microfinance Bank through an associate, Kola Al-Amin. The funds were subsequently funneled through multiple companies under the guise of contract payments.
After a trial spanning over four years, Justice Taiwo ruled on January 28, 2025, that the prosecution had proven its case beyond a reasonable doubt. Oguntade was sentenced to five years imprisonment without the option of a fine.
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