EFCC Convicts Kano Banker in N22.3m Scam

​KANO, NIGERIA — A Federal High Court sitting in Kano has sentenced Janet Theophilus Danjuma, a former staff member of Taj Bank Limited, to five years in prison for orchestrating an investment fraud totaling N22,350,000.

​Justice S. M. Shuaibu delivered the judgment on Monday, February 16, 2026, following the defendant’s “guilty” plea to a one-count charge of obtaining money by false pretense.

​The Deceptive Scheme

​The court heard how Danjuma, while stationed at the Na’ibawa branch of Taj Bank in Kano, exploited her professional position to defraud an investor, Wade Bamaiyi. In October 2024, she convinced the victim to “invest” over N22 million into the bank’s CASA (Current Account Savings Account) program.

​While CASA is a legitimate financial product used by banks to maintain a balance between current and savings accounts, investigations by the Economic and Financial Crimes Commission (EFCC) revealed that Danjuma had no intention of investing the funds. Instead, the Commission traced the entirety of the victim’s money directly into Danjuma’s personal bank accounts.

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​Legal Consequences

​During the proceedings, EFCC prosecuting counsel Sadiq Huseini detailed how the defendant leveraged the reputation of a legitimate financial institution to build a “veneer of trust” with her victims. Huseini argued that such actions undermine the integrity of the banking sector and urged the court to apply the full weight of the law.

​Relying on the provisions of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, Justice Shuaibu convicted Danjuma, noting the severity of the breach of trust. The five-year sentence was handed down without the option of a fine, sending a stern warning to financial industry professionals who use their positions for illicit gain.

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