
An Oyo State High Court has sentenced Olayiwola Oguntade, a former employee of the Joint Admissions and Matriculation Board (JAMB), to five years in prison for fraud.
Oguntade was first arraigned by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on October 13, 2020, facing charges of forgery, advance fee fraud, and obtaining N10 million by false pretense.
According to the EFCC, he forged a Local Purchase Order (LPO) and a Letter of Domiciliation, using the falsified documents to secure a N10 million loan from Polybadan Microfinance Bank. He claimed the funds were for a JAMB contract to provide internet services.
He then gave the fake documents to his friend, K. Ola Al-Amin, a customer of the bank, instructing him to present them in his own name. Al-Amin, believing the claim, obtained the loan and transferred the funds into three different bank accounts. Oguntade further deceived him into thinking the money was for purchasing equipment and installations for the supposed project.
Despite pleading not guilty, the EFCC presented 10 witnesses and several incriminating documents during the four-year trial.
Justice Bayo Taiwo found Oguntade guilty, ruling that the prosecution had proven its case beyond a reasonable doubt. He was subsequently convicted and sentenced to five years in prison.