Nigeria, Nov. 4 -- The Federal High Court in Abuja on Tuesday convicted Ayoola Olakitan of operating an unlicensed financial service business.

The court sentenced him to 12 months' imprisonment but with an option of N50,000 fine.

Trial judge Muhammad Umar passed the verdict after Mr Olakitan pleaded guilty to the two counts preferred against him by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

The anti-graft agency filed the charges against Mr Olakitan and Fortunetech Limited, where he served as secretary.

Following his guilty plea on Tuesday, ICPC lawyer Akponimisingha Osuobeni urged the court to convict and sentence him according to the law.

Defence lawyer Hamza Liman urged the court to temper just...