The judge also ordered the forfeiture of the sum of N97,300,613.44, $139,575.50 (about N58m) and £10,121.52 (about N4,453,000) respectively to the Federal Government of Nigeria being proceeds of unlawful activities.
Illoh was prosecuted by the Economic and Financial Crimes Commission (EFCC) on a three-count charge.
In the first count, the court heard that the defendant on April 19, 2016, in Lagos failed to make full disclosure of assets to the tune of N97.3 million, an offence contrary to and punishable under Section 27 Subsection 3c of the EFCC Establishment Act of 2004.
In the second count, he was accused of failing to disclose the sum of $139,575, while in the third count he failed to disclose assets of £10,121.
He made the U-turn on Thursday after an intensive cross-examination from EFCC counsel Mr. Rotimi Oyedepo revealed that Illoh received funds to the tune of N65million from SURE P project contractors to his personal First Bank account no: 3033750243.
In the middle of proceedings, defence counsel Mr T.S. Awana sought the court’s permission to confer with his client, following which he applied for the defendant to change his plea.
Justice Kuewunmi granted the application and Illoh pleaded guilty.
Accordingly, he was convicted and sentenced to four years imprisonment on each of the counts running concurrently.
The sentence is the second time in three years Illoh has been convicted of fraud.
On October 3, 2019, Justice Oluwatoyin Taiwo of the Ikeja Special Offences Court jailed Illoh for five years for N14.1million fraud.