The presiding magistrate, Mr Olusola Aluko, who found the accused guilty on two counts of unlawful defilement and forceful penetration, sentenced him to five years each on the two counts.
Aluko, however, ruled that the two counts of 10 years must run concurrently, meaning that Olanbeloye will spend five years in prison.
According to the charge sheet read in court on Monday, the convict committed the offence in his room at Sagba's compound in Ikire town on April 24, 2013.
The convict, who initially pleaded not guilty to the charges, however, prayed the court to temper justice with mercy when he was convicted.
Police prosecutor, Inspector Meret Wilson, said the convict raped the girl when she came to collect the sum of N30, which was the money for the provisions she sold to Olanbeloye's wife a day earlier.
In the statement Olanbeloye made at Ikire police station, he alleged that the underage girl freely agreed to have sex with him even as he insisted that he did not rape her.
Olanbeloye, an Ikire indigene and farmer, said in his statement to the police, "She (victim) agreed with me on that day to have sex without any stress. She was the one that took her pants off. I didn't rape her.
"I didn't want to marry her because she is a small girl. I have never raped a child before. I know that what I did was wrong, please, pardon me."
The police prosecutor said the criminal offence committed by Olanbeloye was punishable under Section 218 and 31(2) of the Criminal Code, Cap 34, Volume II, Laws of Osun State.
Wilson also added that the offence was punishable under Child's Right Law of Osun State of Nigeria 2003 and 2007.
Counsel for the convict, Mr. Segun Komolafe, had prayed for leniency, saying as a first time offender, the convict should be given an option of fine.
The magistrate, however, sentenced the culprit to 10 years jail term without an option of fine.
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