A Lagos State Special Offences and Domestic Violence Court sitting in Ikeja has sentenced a former Lagos State Director of Education, Olawale Solomon Faleti, to two years and five months’ imprisonment for stealing over ₦48.9 million.
Faleti, 64, was convicted by Justice Rahman Oshodi after being found guilty on a five-count charge bordering on stealing.
The prosecution, led by the Economic and Financial Crimes Commission (EFCC), told the court that the convict dishonestly converted the sum of ₦48,992,271.73 belonging to Access Bank Plc for his personal use.
According to the EFCC, Faleti had access to an Access Bank credit card which ordinarily allowed withdrawals of not more than ₦43,000 per transaction. However, during the COVID-19 pandemic in 2020, a system glitch allegedly enabled him to make unauthorised withdrawals, resulting in the diversion of about ₦48 million.
One of the charges stated that Faleti, between July 2 and July 10, 2020, within the Ikeja jurisdiction of the court, dishonestly converted the sum of ₦12,528,598 belonging to Access Bank Plc to his personal use.
Another charge alleged that between May 22 and July 1, 2020, he similarly converted ₦6,808,480, also the property of the bank.
The offences were said to be contrary to and punishable under Section 287(1)(a) of the Criminal Law of Lagos State, 2015.
While delivering judgment, Justice Oshodi held that Faleti’s actions were deliberate and calculated, noting that he carried out multiple withdrawals despite knowing he lacked authorisation.
“The court finds that you showed no genuine remorse and failed to accept responsibility for your criminal conduct,” the judge said.
Justice Oshodi consequently sentenced Faleti to two years and five months’ imprisonment on each of the five counts, with the sentences to run concurrently.
The court further ordered him to refund the balance of ₦45,991,271.73 to the nominal complainant, after taking into account an earlier restitution of ₦3 million.
The judge added that Faleti could avoid custodial sentencing if he fully restituted the funds to Access Bank, paid a ₦5 million fine to the state, and the bank formally notified the court. Otherwise, he is to commence his prison term on January 5, 2026, at a maximum-security facility.
Justice Oshodi also ordered that Faleti’s name be entered into the Lagos State offenders’ registry maintained by the state judiciary.
