An Edo State High Court sitting in Benin City has sentenced Chinedu Francis Nwabuisi to two years in prison without an option of fine for converting more than ₦21.9m mistakenly paid into his bank account to personal use.
Justice Irele Ifijeh handed down the sentence after finding Nwabuisi guilty of the offence. He was prosecuted by the Economic and Financial Crimes Commission (EFCC), through its Benin Zonal Directorate.
The EFCC said the defendant converted ₦21,939,237.27 after the funds were erroneously credited to his account following a system glitch at First Bank Plc.
During the trial, prosecution counsel M. S. Dahiru called two witnesses: a senior official of First Bank and an EFCC operative. He also presented documentary evidence, which was admitted by the court.
In his defence, Nwabuisi told the court that he believed the money was a benefit due to him for operating a Point of Sale (POS) business in partnership with the bank.
However, after considering the evidence presented during the proceedings, Justice Ifijeh convicted him and imposed a two-year prison sentence without the option of paying a fine.
The court further ordered Nwabuisi to refund ₦21,939,732.27 to First Bank Plc, which was listed as the complainant in the case.
