₦10.3m Pension Fraud: Court Jails Ex-Bankers After EFCC Secures Conviction in Enugu

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The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has secured the conviction and sentencing of two former bankers, Sani Endurance Aferokhe and Hillary Odo, for the criminal diversion of ₦10.3 million belonging to bank customers, including pensioners, in Enugu State.

The duo were convicted by Justice A. O. Onovo of the Enugu State High Court sitting at Independence Layout, Enugu, after being found guilty of offences bordering on conspiracy, forgery, and stealing.

According to the EFCC, Aferokhe and Odo, former employees of Intercontinental Bank Plc (now Access Bank Plc), were arraigned on January 18, 2016, on a 15-count charge relating to the unlawful diversion of customers’ funds.
One of the charges revealed that on November 21, 2012, the defendants diverted ₦4.44 million from the account of a customer, Udekwu F. A. O, while another count showed that on October 12, 2012, they fraudulently withdrew ₦2.11 million from the account of Onuora George, among other illegal transactions.

The offences were said to be contrary to Section 459(a) of the Criminal Code Law, Cap 30, Laws of Enugu State, 2004. The defendants pleaded not guilty, prompting a full trial.

During the proceedings, the EFCC, through its counsel, Assistant Commander of the EFCC (ACE II) Michael Ikechukwu Ani, called five witnesses and tendered several documentary exhibits to prove the case.
In his judgment delivered on Friday, December 22, 2025, Justice Onovo dismissed counts six and nine but convicted Hillary Odo on counts four and seven. Odo was sentenced to five years’ imprisonment on each count, with an option of a ₦100,000 fine per count.

The court also convicted Sani Endurance Aferokhe on counts one, two, three, five, eight, ten, eleven, twelve, thirteen, fourteen, and fifteen. He was sentenced to five years’ imprisonment on each of the counts, except count fifteen, which attracted three years’ imprisonment, all with an option of a ₦100,000 fine per count.

Investigations revealed that the convicts conspired to reactivate three dormant bank accounts belonging to pensioners without their consent and diverted the funds for personal use.

The EFCC said the conviction underscores its resolve to combat financial crimes and protect vulnerable Nigerians, particularly pensioners, from exploitation and abuse.