Micro-finance firm staff sentenced to 5 years in prison for stealing N1.5m

An Abeokuta Magistrates’ Court sitting in Isabo, on Monday, sentenced a 32-year-old man, Oke Gabriel, to five years imprisonment for stealing N1.5 million, belonging to Grace and Mercy Micro-finance Company.

The Prosecutor, Insp. Abolade Bukola, told the court that the defendant committed the offence in May 2019, at Grace and Mercy Micro-finance Company at Iyanu Cele, Car-wash area, Abeokuta.

Bukola said the convict was a member of staff of the company, working as Credit Officer.

She further revealed that the convict collected money, totalling N1. 456.700, from various customers as loan payments but failed to remit same to the company’s account.

The prosecutor added that when the company discovered the missing money and asked Gabriel, he could not give account, having converted the money to his personal use.

According to her, the offence contravenes Section 390(6) of the Criminal Code, Laws of Ogun, 2006.

The Magistrate, Mrs I. O Abudu, in her ruling sentenced the Gabriel to five years in prison.

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She, however, gave him an option of N100,000 fine.

The Magistrate also ordered the convict to refund the money he stole from the company,NAN reports.

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