Justice I. O. Ijelu of the Lagos State High Court, Ikeja, on Monday, August 25, 2025, convicted and sentenced mortgage banker, Sulaiman Olayiwola Gbajabiamila, to 20 years in prison for N31 million property fra¥d.
Gbajabiamila was arraigned on September 19, 2023, by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on a seven-count charge bordering on st+aling, obtaining by false pretences, f+rgery, and retention of proceeds of crime.
One of the charges reads: “That you, Sulaimon Olayiwola Gbajabiamila, sometimes in 2021 in Lagos, within the jurisdiction of this Honorable Court, with dishonest intent, stole and converted to your own use the sum of N31,000,000.00 property of Lateef Ayo Adeyemo.”
Another reads: “That you, Sulaimon Olayiwola Gbajabiamila, sometime in 2021 in Lagos, within the jurisdiction of this Honorable Court, with intent to defra¥d, f+rged a Sterling Bank Manager’s cheque no. 2166**** dated 20th October 2021 with the value of N10,000,000.00 in favor of STB Building Society Limited.”
He pleaded “not guilty” to all counts, prompting a full trial. EFCC counsel Abdulhamid L. Tukur called two witnesses and tendered documents against him.
During allocutus, defence counsel T. E. Gbado pleaded with the court to “temper justice with mercy”, citing remorse and his client’s status as a first-time offender.
Delivering judgment, Justice Ijelu sentenced him to five years on count one (stealing), with an option of ₦1m fine; seven years on count two (obtaining by false pretences); two years each on counts three, four and five (f+rgery), with ₦1m fine on each; two years on count six (using false documents), with an option of ₦200,000 fine; and four years on count seven (retention of proceeds of crime), with a ₦500,000 fine option.
EFCC investigations showed that Gbajabiamila collected N31m from petitioner Lateef Adeyemo for a two-bedroom apartment at Lagos Homes, Iponri, but diverted the funds for personal use.
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