Man jailed two years for spending ₦21.9m mistakenly credited to his bank account

A man identified as Chinedu Francis Nwabuisi has been sentenced to two years’ imprisonment without an option of fine for converting over ₦21.9 million mistakenly credited to his bank account to personal use.

Justice Irele Ifijeh of the Edo State High Court sitting in Benin City handed down the sentence after finding Nwabuisi guilty of the offence following his arraignment by the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).

The commission disclosed that Nwabuisi converted ₦21,939,237.27 to personal use after the money was erroneously credited to his account due to a system glitch by First Bank Plc.

During the trial, prosecution counsel, M. S. Dahiru, presented two witnesses, including a senior First Bank official and an EFCC operative. He also tendered documentary evidence, which was admitted by the court.

In his defence, Nwabuisi claimed that he believed the money was a benefit accruing to him for operating a Point of Sale (POS) business with the bank.

However, Justice Ifijeh found him guilty and sentenced him to two years in prison without an option of fine.

The court also ordered him to refund ₦21,939,732.27 to First Bank Plc, the complainant.