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N240m Fraud: Supreme Court Affirms Conviction, Seven-Year Jail Term of Senator Albert Bassey

David Egbede, February 28, 2026February 28, 2026


The Supreme Court of Nigeria has affirmed the conviction and seven-year prison sentence handed to Senator Albert Bassey over a N240 million fraud case.


In a unanimous decision delivered on Friday, a five-member panel of the apex court upheld the earlier rulings of both the trial court and the Court of Appeal, while restoring an order for restitution of N204 million to Akwa Ibom State.


The judgment was delivered by Justice Stephen Jonah Adah, who stated that after reviewing the appeal filed by the senator, the court found no reason to disturb the conviction and sentence imposed by the lower court.


“The order of this court is that the conviction and sentencing imposed by the lower court on the 23rd day of June 2023 on the appellant is hereby affirmed,” Justice Adah ruled.


“The order of the lower court avoiding the order of restitution given by the trial court did not follow the law, so it is revised and the right order is to nullify same and thereby the restitution of sum of N204 million made by the trial court is restored.”


Background of the Case
Senator Bassey’s legal troubles began following his prosecution by the Economic and Financial Crimes Commission, EFCC. He was prosecuted before Justice Agatha Okeke of the Federal High Court in Oyo, Akwa Ibom State.


The anti-graft agency, led by prosecution counsel Ekele Iheanacho, SAN, charged him with receiving bribes in the form of 12 vehicles valued at N254 million while serving as Commissioner for Finance in Akwa Ibom State.


On December 1, 2022, the trial court convicted him on all seven-count charges and sentenced him to seven years imprisonment on each count, totaling 42 years. However, the sentences were to run concurrently, effectively meaning a seven-year term.


Dissatisfied with the verdict, Bassey approached the Court of Appeal, where a three-man panel led by Justice Raphael Chikwe Agbo upheld his conviction but introduced an option of fine.


The Supreme Court has now struck out parts of that appellate judgment, restoring the original restitution order and affirming the custodial sentence.


Final Verdict
With the apex court’s ruling, the conviction and seven-year jail term remain in force, alongside the directive that N204 million be refunded to Akwa Ibom State.


The EFCC described the judgment as a reaffirmation of the judiciary’s commitment to accountability and the fight against corruption.

News Politics Albert BasseyEFCCFraudSupreme Court

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