The Lagos State High Court sitting in Ikeja, Lagos, on Monday, August 25, 2025, has convicted and sentenced Sulaiman Olayiwola Gbajabiamila for property fraud amounting to over N31 million and forgery of a Sterling Bank Manager’s cheque.
Justice I. O. Ijelu delivered the verdict, according to a statement by the Economic and Financial Crimes Commission (EFCC) on Monday.
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 related to stealing, obtaining by false pretences, forgery, and retention of proceeds of crime to the tune of N31 million.
EFCC Allegations
According to the EFCC, the suspect’s legal troubles began after he was introduced by an estate agent, Lukman, to the petitioner, Lateef Adeyemo.
Adeyemo, who needed to acquire a flat in Lagos Homes in the Iponri area of Lagos, made payments for the property, but it was never delivered.
“Further investigation revealed that the petitioner paid a total sum of N31 million to Gbajabiamila for a two-bedroom apartment, but efforts to obtain the property proved abortive as he diverted the money for his personal use,” the EFCC added.
One of the charges reads: “That you, Sulaimon Olayiwola Gbajabiamila, sometime 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 charge states: “That you, Sulaimon Olayiwola Gbajabiamila, sometime in 2021 in Lagos, within the jurisdiction of this Honorable Court, with intent to defraud, forged a Sterling Bank Manager’s cheque no. 21664497 dated 20th October 2021 with the value of N10,000,000.00 in favour of STB Building Society Limited.”
What Transpired in Court
At the court session, Gbajabiamila pleaded “not guilty” to the charges when they were read to him by the registrar, paving the way for a full trial.
The prosecution counsel, Abdulhamid L. Tukur, presented two witnesses and tendered several documents which were admitted as evidence against the suspect.
The defence counsel, T. E. Gbado, eventually prayed the court to “temper justice with mercy.”
Delivering judgment on Monday, Justice Ijelu “convicted and sentenced Gbajabiamila to five years imprisonment on count one (stealing), with an option of N1 million fine; seven years on count two (obtaining by false pretences); two years each on counts three, four, and five (forgery), with the option of N1 million fine on each count; two years on count six (using false documents), with an option of N200,000 fine; and four years on count seven (retention of proceeds of crime), with an option of N500,000 fine.”
Earlier in the proceedings, the defense lawyer explained to the judge that his client was remorseful and a first-time offender.
However, the court convicted the defendant in line with relevant laws.
