Bank manager steals customer’s N112M, bags 121 years in prison

A former bank manager, Nwachukwu Placidus is sentenced to 121 years in prison for stealing N112,100,000 in fixed deposit funds belonging to a customer for personal use.

Placidus, previously the manager of First City Monument Bank (FCMB) at the Onitsha branch, received this sentence from Justice S. N. Odili of the Anambra State High Court in Onitsha on Friday, May 3, 2024.

The arrest of Placidus followed a petition by Idemili Microfinance Bank LTD to the Economic and Financial Crimes Commission (EFCC).

EFCC Spokesperson Dele Oyewale disclosed this in a statement on Saturday, explaining that Placidus was arraigned on 16 counts related to forgery, theft, obtaining by 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 upon their reading, initiating the commencement of his trial.

Throughout the trial proceedings, the EFCC, represented by its counsel Mainforce Adaka Ekwu, presented four witnesses and submitted numerous pertinent documents, all of which were admitted as evidence.

Justice Odili declared, “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.”