Former Bank Manager bags 121 years jail term

Former bank manager bags just 121 years in prison for st£aling a customer’s N112m

A former bank manager, Nwachukwu Placidus, has been sentenced to 121 years in prison for diverting fixed deposit funds of a customer to the tune of N112,100,000 for his personal use.

Placidus, who was the  former manager of First City Monument Bank (FCMB), Onitsha branch, was sentenced by Justice S. N. Odili of the Anambra State High Court sitting in Onitsha, on Friday, May 3, 2024. 

Placidus was arrested following a petition by Idemili Microfinance Bank LTD to the Economic and Financial Crimes Commission, EFCC.

The EFCC Spokesperson, Dele Oyewale who revealed this in a statement on Saturday explained that the Convict was arraigned on 16-count charges bordering on forgery, st£aling, obtaining by false pretence and uttering.

“One of the counts reads: ‘Nwachukwu Placidus between February 2009 and November 2014 in Onitsha, Anambra State within the jurisdiction of the Anambra State High Court of Nigeria with intent to defraud obtained the sum of N112,100,000 from Idemili Microfinance Bank under the false pretence that you have placed the said money in a fixed deposit account with First City Monument Bank PLC for it, which pretence you knew to be false and you thereby committed an offence.

He pleaded not guilty to the charges when they were read to him, thus setting the stage for his trial.

In the course of trial, the EFCC, through its counsel, Mainforce Adaka Ekwu presented four witnesses and tendered several relevant documents which were admitted in evidence.

In his judgment, Justice Odili held that “the prosecution proved its case beyond reasonable doubt” and sentenced the convict to nine years imprisonment on count 3, 4 years on count 4 and 9 years on counts 5 to 16 respectively. He was discharged on counts 1 and 2. The sentences shall run concurrently.

The court further ordered the convict to restitute the said sum to his victim, Idemili Microfinance Bank,” the statement reads.
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