Friday, 19 July 2019 17:07

Jailed ex-Vanguard accountant stole N41 million, not N3.1 million – EFCC

Contrary to its initial report, the anti-graft agency, EFCC, said the former Chief Accountant of Vanguard Newspaper sentenced to seven years imprisonment last week actually stole N40.66 million from the company.


The correction was seen in court documents sent to PREMIUM TIMES on Thursday.

The EFCC had earlier reported on Tuesday that Mr Abiodun was jailed for stealing N3.1 million. He was found guilty of an eight-count charge of conspiracy, and forgery.

Also sentenced by the court was the former circulation representative of the newspaper, Benin Office, Joseph Ezeobi, who got three years imprisonment over his involvement in the forgery.


Justice Oluwatoyin Ipaye, however, sentenced the former Vanguard chief accountant to seven years imprisonment on one count. ”He is sentenced to seven years in prison each for counts two to eight,” the judge said in her judgment.

The accused, who had been on bail since the trial began, will serve their judgements afresh.

According to the document seen by this newspaper, the convict and his accomplice had on various dates illegally converted N4.52 million, N18 million, N18.14 million belonging to Vanguard.


“Abiodun and Ezeobi had on January 7, 2009, in Lagos, with intent to defraud the Complainant (Vanguard Media Limited), fraudulently converted N800,000 property of Vanguard Media Limited.

“Abiodun and Ezeobi had on November 21, 2007, in Lagos, with intent to defraud Vanguard Media Limited, conspired to forge a Wema Bank Plc deposit slip No. 0278679 purporting to be in the value of N740,000.00 dated November 21, 2007.

PREMIUM TIMES learnt that immediately after the judgment, the former accountant and sales manager were taken to the Kirikiri Maximum Prison in Apapa, Lagos State, to serve their jail term.


Mr Abiodun was first arraigned in November 2011. The trial lasted eight years.



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