A man, Chinedu Francis Nwabuisi, has been sentenced to two years imprisonment without an option of fine for spending N21.9 million mistakenly credited to his bank account.
Justice Irele Ifijeh of the Edo State High Court, sitting in Benin City, convicted Nwabuisi after finding him guilty of converting the money to personal use.
The Economic and Financial Crimes Commission (EFCC), through its Benin Zonal Directorate, prosecuted him over the sum of N21,939,237.27, which was erroneously credited to his account following a system glitch at First Bank Plc.
During the trial, prosecution counsel, M.S. Dahiru, called two witnesses, including a senior First Bank official and an EFCC operative. Several documents were also tendered and admitted as evidence.
However, in his defence, Nwabuisi claimed he believed the money was a benefit accruing to him for operating a Point of Sale (POS) business with the bank.
The court found him guilty and sentenced him to two years behind bars without an option of fine.
Justice Ifijeh also ordered him to refund the money to First Bank Plc.
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