A man, Chinedu Francis Nwabuisi, has been sentenced to two years in prison for unlawfully converting over N21.9 million erroneously credited to his bank account by First Bank Plc.
The conviction and sentence were secured by the Economic and Financial Crimes Commission (EFCC) before Justice Irele Ifijeh of the Edo State High Court in Benin City.
Nwabuisi was prosecuted by the EFCC’s Benin Zonal Directorate for using the funds, which were mistakenly transferred into his account due to a technical error at the bank.
The prosecution, led by counsel M. S. Dahiru, called two witnesses—a senior First Bank official and an EFCC operative—and presented documentary evidence, all of which were admitted by the court.
In his defence, Nwabuisi claimed he believed the money was a legitimate benefit from his Point of Sale (POS) business relationship with the bank.
However, after reviewing the evidence, Justice Ifijeh found him guilty and sentenced him to two years’ imprisonment without the option of a fine. Additionally, the court ordered Nwabuisi to restitute First Bank Plc, the complainant, with the sum of N21,939,732.27.
