In a landmark demonstration of Nigeria's commitment to financial accountability and the rule of law, Justice Rahman Oshodi of the Lagos State Special Offences and Domestic Violence Court has delivered a judgment that prioritizes restitution and justice for fraud victims.

The case, prosecuted by the Economic and Financial Crimes Commission (EFCC), centered on Olawale Solomon Feleti, a 64-year-old former education director in Lagos State, who was found guilty of stealing N48,992,271.73 from Access Bank Plc during the challenging COVID-19 pandemic period in 2020.

What makes this ruling particularly significant is the court's emphasis on making victims whole again. Justice Oshodi ordered comprehensive restitution, requiring Feleti to return N45,991,271.73 to Access Bank and an additional N3 million to the court. This victim-centered approach to justice ensures that the financial institution affected by the crime will recover the vast majority of its losses.

The judgment also demonstrates the courts' evolving approach to sentencing, offering pathways for rehabilitation. Justice Oshodi imposed a sentence of two years and five months, running concurrently across all five counts, along with a N5 million fine. Notably, the judge indicated that non-custodial sentencing options could be considered upon full compliance with restitution requirements, showing the justice system's flexibility in balancing punishment with practical outcomes.

The EFCC's successful prosecution of this case highlights the improving capacity of Nigeria's anti-corruption agencies to investigate complex financial crimes and bring perpetrators to justice. The commission's detailed investigation revealed how Feleti had exploited a system glitch during the pandemic to make unauthorized withdrawals from the bank's credit card system between May and July 2020.

This case sends several positive signals for Nigeria's financial sector and society at large. First, it demonstrates that no one is above the law, regardless of their position or professional background. Second, it shows that financial institutions have effective mechanisms to detect fraud and seek legal recourse. Third, it reinforces public confidence that law enforcement agencies are actively working to protect citizens and institutions from financial crimes.

The thoroughness of the judicial process is also commendable. Justice Oshodi carefully considered all evidence before delivering judgment, ensuring due process was followed. The court's order to register Feleti's name in the Lagos State offenders' registry maintained by the Lagos State Judiciary adds another layer of accountability and helps prevent future offenses.

For Access Bank, the ruling offers a clear path to recovering funds that were wrongfully taken during an already difficult period for the banking sector. The court's directive that the bank should formally notify the court upon full restitution demonstrates judicial oversight that ensures orders are actually carried out.

This judgment represents a victory for institutional integrity and the continued strengthening of Nigeria's legal framework. It shows that when institutions work together—the judiciary, law enforcement, and the private sector—justice can be served effectively, victims can be compensated, and society moves closer to its goal of zero tolerance for corruption.

As Nigeria continues to build robust systems for financial accountability, cases like this serve as important precedents and reminders that the rule of law prevails.