Court Sentences Man to 74 Years for Cheque Fraud
Lagos Businessman Bags 74-Year Sentence for ₦360m Fraud, Dud Cheques
A Lagos State High Court sitting in Ajah has sentenced a 45-year-old businessman, Chukwudi Goodness, to 74 years imprisonment for stealing ₦360 million and issuing 31 dishonoured (dud) cheques in a fraudulent business deal.
Justice Josephine Oyefeso delivered the judgment on Tuesday, June 10, finding Goodness guilty on 32 out of the 33-count charges brought against him by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
Goodness was arraigned in June 2016 on charges of stealing and cheque fraud, all stemming from a failed business transaction with one Mr. Henry Nnadike, who was defrauded of a staggering ₦360 million between June and July 2015 in Ikeja, Lagos.
According to the EFCC, one of the charges stated:
“That you, Chukwudi Okonkwo Goodness, sometime between the months of June and July, 2015 at Ikeja, within the jurisdiction of this Honourable Court, fraudulently converted and stole the sum of ₦360,000,000.00, property of one Henry Nnadike, and committed an offence of stealing by conversion contrary to Sections 278 and 285 of the Criminal Law of Lagos State, 2011.”
Goodness pleaded not guilty, prompting a prolonged trial during which the prosecution, led by T.J. Banjo, presented four witnesses and tendered various documentary exhibits to prove the case.
In her ruling, Justice Oyefeso stated that the EFCC had successfully established its case beyond reasonable doubt.
Goodness was convicted on 32 counts, including the principal charge of stealing and 31 counts of issuing worthless cheques.
He was acquitted only on count two, which alleged possession of documents with false pretence.
The sentencing breakdown is as follows:
- 7 years for count one (stealing)
- 2 years each on counts three to thirty-two (dud cheques)
- 7 years for count thirty-three (another charge of stealing)
Despite the cumulative 74-year sentence, all terms are to run concurrently, meaning Goodness will serve a maximum of seven years in prison.
In addition to the prison term, the court ordered the convict to restitute ₦215 million to the victim within 30 days of the judgment.
Justice Oyefeso warned that any consideration for a fine in lieu of imprisonment would be conditional on full compliance with the restitution order.
The case highlights the EFCC’s ongoing crackdown on financial crimes and reinforces the judiciary’s stance against corporate fraud and abuse of trust in commercial dealings.
Court Sentences Man to 74 Years for Cheque Fraud