An Oyo State High Court in Ibadan, presided over by Justice Bayo Taiwo, has sentenced former Joint Admissions and Matriculation Board (JAMB) staff Olayiwola Oguntade to five years in prison for fraud involving N10 million.
Oguntade was charged by the Economic and Financial Crimes Commission (EFCC) in October 2020 on three counts of forgery, advance fee fraud, and obtaining money under false pretences.
Despite pleading not guilty, the prosecution presented 10 witnesses and multiple documents, convincing the court of his guilt.
The convict had forged a Local Purchase Order (LPO) and a Letter of Domiciliation, claiming to have secured a contract with JAMB for internet services.
Using these forged documents, he obtained a N10 million loan from Polybadan Microfinance Bank through an accomplice, K. Ola Al-Amin.
The funds were funnelled into accounts of companies linked to Oguntade under the guise of payment for equipment and installations.
Investigations later revealed that the fraud was part of a scheme to repay previous loans he had also fraudulently secured.
Justice Taiwo ruled that the prosecution had proven its case beyond a reasonable doubt, sentencing Oguntade to five years in prison without the option of a fine.
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