Man baggage two 12 months jailterm for spending spending N21.9m mistakenly despatched to his account

News

By Linda Ikeji
10 November 2026, 11:24 am

The Economic and Financial Crimes Commission (EFCC) has secured the sentencing of a person recognized as Chinedu Francis Nwabuisi, to 2 years in jail for changing greater than N21.9 million erroneously credited to his checking account for private use.

The fee disclosed this in a press release launched on Tuesday, November 10, 2026.

According to the EFCC, Justice Irele Ifijeh of the Edo State High Court sitting in Benin City convicted and sentenced Nwabuisi to 2 years’ imprisonment with out an possibility of positive.

The fee stated the cash, amounting to N21.9m, was mistakenly credited to Nwabuisi’s account following a system glitch at First Bank Plc.

The EFCC said that Nwabuisi was arraigned by its Benin Zonal Directorate after allegedly changing the funds to his private use.

The assertion talked about that throughout the trial, prosecution counsel, M.S. Dahiru, introduced two witnesses, comprising a senior First Bank official and an EFCC operative. It said that a number of paperwork have been additionally tendered and admitted as displays by the court docket.

In his defence, Nwabuisi reportedly instructed the court docket that he believed the cash was proceeds from working a Point of Sale (POS) enterprise with the financial institution.

However, Justice Ifijeh discovered him responsible and sentenced him to 2 years in jail with out an possibility of positive.

The court docket additionally ordered him to refund the cash to First Bank Plc.

The EFCC said that the court docket ordered Nwabuisi to “restitute the complainant, First Bank Plc” with the sum of N21,939,732.27.