The Lagos State High Court in Ikeja has handed down a 20-year prison sentence to Sulaiman Olayiwola Gbajabiamila, a mortgage banker, after finding him guilty on several counts of property fraud and forgery.
Case Overview
Gbajabiamila was brought to court by the Economic and Financial Crimes Commission (EFCC) on September 19, 2023, facing seven charges that included stealing, obtaining money under false pretenses, forgery, using fake documents, and keeping proceeds from criminal activity. The alleged fraud totals an eye-watering ₦31 million, linked to a two-bedroom apartment deal that never materialized, plus the forgery of a cheque from a Sterling Bank manager worth ₦10 million.
Court Verdict and Sentence
Justice I. O. Ijelu of the Lagos State High Court found him guilty on all seven counts and imposed the following sentences:
Count 1 (Stealing): 5 years in prison or a ₦1 million fine.
Count 2 (Obtaining by false pretenses): 7 years in prison.
Counts 3–5 (Forgery): 2 years in prison each or ₦1 million fine for each count.
Count 6 (Using false documents): 2 years in prison or ₦200,000 fine.
Count 7 (Retention of proceeds of crime): 4 years in prison or ₦500,000 fine.
In total, these sentences add up to 22 years, but reports summarize it as 20 years, possibly due to judicial discretion.
EFCC’s Findings
The EFCC began its investigation after a complaint from Lateef Adeyemo, who alleged he paid ₦31 million for a Lagos apartment that was never delivered. Gbajabiamila is accused of misusing these funds for personal gain and creating a fraudulent cheque in this scheme.
Significance
This ruling sends a strong message showing that the judiciary won't tolerate property fraud, especially from professionals who have access to their clients’ money. It highlights the increased alertness of anti-corruption bodies like the EFCC in protecting real estate transactions in Nigeria.
