A Lagos High Court has convicted mortgage banker Suleiman Gbajabiamila of N31 million property fraud, sentencing him to prison terms with fine options after EFCC prosecution
Lagos Court Convicts Gbajabiamila Over N31m Property Fraud
The Lagos State High Court in Ikeja has convicted mortgage banker, Suleiman Gbajabiamila, for defrauding a property buyer of N31 million in a fraudulent transaction.
Justice I. O. Ijelu, in her ruling on Monday, found Gbajabiamila guilty on all seven counts of stealing, forgery, using false documents, obtaining by false pretences, and retention of proceeds of crime, charges brought against him by the Economic and Financial Crimes Commission (EFCC).
Delivering judgement, Justice Ijelu sentenced him to prison terms ranging from two to seven years, with alternative fines totalling N4.7 million.
According to the EFCC, the case was initiated following a petition by victim Lateef Adeyemo, who alleged that he paid Gbajabiamila N31 million in 2021 for a two-bedroom apartment in Lagos. Despite full payment, Adeyemo never received the property, and investigations revealed that Gbajabiamila diverted the funds for personal use.
One of the charges also accused him of forging a Sterling Bank manager’s cheque worth N10 million in favour of STB Building Society Limited with intent to defraud.
Gbajabiamila, who initially pleaded not guilty, faced a full trial during which the prosecution, led by Abdulhamid Tukur, presented two witnesses and several documents admitted in evidence.
After reviewing the evidence, Justice Ijelu upheld the EFCC’s case, stating:
“The prosecution has successfully proved its case beyond reasonable doubt. The defendant is hereby convicted on all seven counts.”
Before sentencing, defence counsel T. E. Gbado pleaded for leniency, describing Gbajabiamila as a first-time offender who had shown remorse.
In sentencing, Justice Ijelu ruled:
- Five years imprisonment on count one (stealing), with an option of N1 million fine.
- Seven years imprisonment on count two (obtaining by false pretences).
- Two years each on counts three, four, and five (forgery), with N1 million fine options.
- Two years imprisonment on count six (using false documents), with an option of N200,000 fine.
- Four years imprisonment on count seven (retention of proceeds of crime), with an option of N500,000 fine.
The conviction highlights EFCC’s ongoing fight against real estate and property fraud across Nigeria. Read More
