The Economic and Financial Crimes Commission (EFCC) has secured the conviction of Janet Theophilus Danjuma, a bank employee, for defrauding an investor of N22,350,000 through a fake investment scheme in Kano.

Danjuma was convicted on Monday, February 16, 2026, by Justice S. M. Shuaibu of the Federal High Court, Kano Division, and sentenced to five years’ imprisonment without an option of a fine.

The defendant, who worked at Taj Bank Limited, Nai’bawa Branch, faced a one-count charge of obtaining money by false pretence.

According to the charge, in October 2024, Danjuma dishonestly obtained N22,350,000 from Wade Bamaiyi, claiming the funds would be invested in Taj Bank’s CASA (Current Account Savings Account) programme.

The charge read:
"Janet Theophilus Danjuma, being a staff of Taj Bank Limited, Nai’bawa Branch Kano, sometime in October 2024 in Kano, within the jurisdiction of this Honourable Court, with intent to defraud, did obtain the sum of N22,350,000 from Wade Bamaiyi under the pretext that the money would be invested in CASA Programme of Taj Bank Limited, which pretext you knew to be false and thereby committed an offence contrary to Section 1(1)(b) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006."

Danjuma pleaded guilty when the charge was read to her.

During the trial, prosecuting counsel Sadiq Huseini stated that the defendant exploited the credibility of a legitimate banking product to gain the victim’s trust.

“The defendant used her position as a bank staff and the credibility of an existing financial product to deceive the complainant into parting with N22,350,000,” Huseini said. “Investigations traced the entire sum to her personal account.”

He urged the court to convict and sentence her, noting that the offence undermined public confidence in the financial system.

Justice Shuaibu convicted Danjuma based on her guilty plea and sentenced her to five years’ imprisonment without the option of a fine.

The EFCC confirmed that investigations revealed the so-called investment scheme was non-existent and that the funds were diverted for personal use.