A former employee of the Joint Admissions and Matriculation Board (JAMB), Olayiwola Oguntade, has been sentenced to five years of imprisonment without the option of a fine due to fraudulent activities.
Justice Bayo Taiwo of the Oyo State High Court in Ibadan rendered this judgment on January 28, 2025.
Oguntade faced arraignment by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on October 13, 2020, on a three-count amended charge that included forgery, advance fee fraud, and obtaining money under false pretenses, amounting to N10 million.
According to the first count, Oguntade unlawfully acquired the sum of N10,000,000.00 (Ten Million Naira) in 2010 in Ibadan, with intent to defraud, through Kola Al-Amin from Polybadan Microfinance Bank Ltd. This act was deemed a violation of Section 1 (i)(b) and 1 (3) of the Advance Fee Fraud and Other Related Offences Act, 2006.
The second count accused Oguntade of forging a Local Purchase Order (LPO) purportedly issued by JAMB on October 15, 2010, in violation of Section 467 of the Criminal Code Law Cap 38, Laws of Oyo State, 2000.
Upon pleading “not guilty” to the charges, Oguntade underwent a trial that spanned over four years. The prosecution, represented by counsel Oyelakin Oyediran and Lanre Suleiman, presented ten witnesses and submitted numerous incriminating documents that were accepted as evidence.
In his ruling, Justice Taiwo indicated that “the prosecution has proved its case beyond a reasonable doubt, and the court is convinced that the defendant is guilty of the offenses filed against him by the EFCC.”
Oguntade, who was employed in JAMB’s Finance and Accounts Department, forged both the LPO and a Letter of Domiciliation to fraudulently secure a N10 million loan from Polybadan Microfinance Bank, falsely claiming to be executing a contract for internet services awarded by JAMB.
To facilitate his fraudulent scheme, he enlisted the assistance of a friend, K. Ola Al-Amin, a client of the microfinance bank, who presented the forged documents in his name. Al-Amin, operating under the impression that the documents were authentic, obtained the loan, which was subsequently disbursed among three companies: Reeden Investment Limited, Danmarg Multiventures Company, and Enrich System Nigeria Limited.
Investigations disclosed that Oguntade had previously issued forged LPOs to these entities, using the fraudulently obtained N10 million to settle existing debts.
He has since been convicted and is serving his sentence at the Nigerian Correctional Centre.