Mrs. Cecilia Ibru, the former managing director of Oceanic Bank PLC, is to spend six months in jail and  forfeit over N150 billion Naira in assets and cash.

The former MD was convicted of bank and securities fraud and was convicted earlier today by a federal high court judge in Ikoyi, Lagos.

However, the judge provided what amounts to a slap on the wrist by giving her only six months jail time. The judge said Mrs. ibru   will get 1 -month credit for time already spent in EFCC custody during her arrest and interrogation.

Source:

http://saharareporters.com/news-page/former-md-oceanic-bank-cecilia-ibru-convicted-bank-fraud