Man jailed two years for spending N21.9m mistakenly paid to his bank account

A man, Chinedu Francis Nwabuisi, has been sentenced to two years imprisonment without an option of fine for converting N21.9 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.

The Economic and Financial Crimes Commission, EFCC, Benin Zonal Directorate, prosecuted Nwabuisi for converting the money which was erroneously credited to his account from First Bank Plc following a system glitch.

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

However, while defending himself, Nwabuisi claimed he believed the money was a benefit due to him for operating a Point of Sale, POS, business with the bank.

The court rejected his defense and convicted him, sentencing him to two years in prison without an option of fine.

Justice Ifijeh also ordered the convict to repay First Bank Plc the sum of N21.9 million.

Man jailed two years for spending N21.9m mistakenly paid to his bank account