Man Jailed Two Years For Spending N21.9million Erroneously Credited To His Bank Account
Man Jailed Two Years For Spending N21.9million Erroneously Credited To His Bank Account
The court also ordered the convict to restitute First Bank Plc, the complainant in the case, with the sum of N21,939,732.27.
The Economic and Financial Crimes Commission (EFCC) has secured the conviction and sentencing of a man, Chinedu Francis Nwabuisi, to two years’ imprisonment for converting to personal use over N21.9 million erroneously credited to his bank account by First Bank Plc.
Nwabuisi was sentenced by Justice Irele Ifijeh of the Edo State High Court sitting in Benin City after he was found guilty of spending the money, which was mistakenly transferred into his account due to a system glitch at the bank.
The convict was prosecuted by the EFCC’s Benin Zonal Directorate over the sum of N21,939,237.27, which was erroneously credited to his account.
During the trial, prosecution counsel, M. S. Dahiru, presented two witnesses, including a senior official of First Bank and an operative of the EFCC. The prosecution also tendered documentary evidence, which was admitted by the court.
However, while presenting his defence, Nwabuisi claimed that he believed the money credited to his account was a benefit arising from his operation of a Point of Sale (POS) business with the bank.
After considering the evidence presented before the court, Justice Ifijeh convicted Nwabuisi and sentenced him to two years’ imprisonment without an option of fine.
The court also ordered the convict to restitute First Bank Plc, the complainant in the case, with the sum of N21,939,732.27.
