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N240m Fraud: Supreme Court Upholds Senator Albert Bassey’s Conviction, Sentence

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N240m Fraud: Supreme Court Upholds Senator Albert Bassey’s Conviction, Sentence

by Present Nigeria
February 28, 2026
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N240m Fraud: Supreme Court Upholds Senator Albert Bassey’s Conviction, Sentence
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The Supreme Court of Nigeria has affirmed the conviction and seven-year prison sentence of Senator Albert Bassey over a N240 million fraud case.

In a unanimous decision delivered on February 27, 2026, a five-member panel of the Supreme Court of Nigeria upheld the earlier judgments of both the trial court and the Court of Appeal, confirming Bassey’s conviction and restoring an order compelling him to refund N204 million to the Akwa Ibom State Government

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Justice Stephen Jonah Adah, who delivered the lead judgment, ruled that while the conviction and sentence imposed on June 23, 2023, remain valid, the Court of Appeal erred in voiding the restitution order earlier granted by the trial court.

“The order of this court is that the conviction and sentencing imposed by the lower court on the 23 day of June 2023 on the appellant is hereby affirmed but 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”, he said.

Bassey`s journey to the prison started following his prosecution by the Economic and Financial Crimes Commission, EFCC, led by prosecution counsel, Ekele Iheanacho SAN before Justice Agatha Okeke of the Federal High Court in Uyo, Akwa Ibom State for receiving bribes of 12 cars worth N254 million as Commissioner for Finance in Akwa Ibom State.

He was convicted on all the seven-count charges against him and sentenced to seven years in prison for each charge, totaling 42 years on Thursday, December 1, 2022.

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

However, the EFCC challenged aspects of that ruling, and the matter eventually reached the Supreme Court, which has now put the case to rest by affirming the conviction and reinstating the restitution order.

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PRESENT, a credible online newspaper from the cell of Red Carpet Communications Limited, is published by an experienced and profoundly resourceful journalist, Yemi Olowolabi.
It leads in lucid presentation of trending stories and breaking news in Politics, Business, Economy, Entertainment, Sports, Lifestyles and Other Features.
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