Ex-First Bank Chairman’s son commits suicide after withdrawing customer’s N350m

OrijoReporter.com, Ex-First Bank Chairman's son commits suicide

Olisa Nwakobi, a banker at FCMB has committed suicide in Lagos State after a business venture he withdrew N350m from a customer’s account to finance went wrong.

Read also: Edo Speaker ‘pushing himself to suicide’ over health problem

The deceased(pictured) was son of former chairman of First Bank Plc, Patrick Oguejiofor Nwakobi, and had worked with the second generation bank for about a decade. His last posting was the Jakande, Lekki , Lagos branch of the bank.

Last Friday, the 44-year old banker committed suicide in front of his pastor at Our Lady Star of the Sea church in Northern Foreshore estate, Lekki. He killed himself when the lid on the N350m he and a colleague withdrew from a customer’s account was blown wide open.

It was said that the father-of-one had conspired with a colleague to use the deposit to buy dollars from the Central Bank and sell in the black market at a profit. Their plan, which was to return the money back to the bank’s coffer on the same day, however, fell through and they were found out by the bank’s internal audit.

The deceased and his colleague were scheduled to face a panel of auditors this week before being handed over to the police for investigation and prosecution.


But Olisa was said to have told his pastor to tell his wife to take care of his daughter before shooting himself dead. The deceased, who was son of a late reputed lawyer, politician and boardroom guru was said to have killed because he felt he had brought the family’s name into disrepute.

However, FCMB has denied that Olisa was involved in any shady deal. It said the deceased had personal challenges.

“It is rather unfortunate that the incident happened. Mr. Nwakoby was a member of staff of the FCMB. We are not aware that he was facing personal challenges, which led to the incident. As a bank that caters to the well-being of its workers, we have counsellors who could have helped him. This came as a surprise to us as it was to the public. It is such a trying time for the family; we have been in touch with them. There is a lot of speculations going on at the moment, a lot of them unfounded.

“We are working closely with security operatives and his family to understand what could have led to the personal challenges. I am not aware of any loan. I can’t comment on speculations,” the Acting Group Head, Communications and Brand Management of the bank, Lola Egboh told Punch.



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