A man, identified as Chinedu Francis Nwabuisi, has been sentenced to two years’ imprisonment without an option of fine for converting over ₦21.9 million erroneously 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 convicting Nwabuisi, who was arraigned by the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
The commission disclosed that Nwabuisi converted ₦21,939,237.27 to personal use after the money was mistakenly credited to his account due to a system glitch by First Bank Plc.
During the trial, prosecution counsel, M. S. Dahiru, presented two witnesses, comprising a senior First Bank official and an EFCC operative. He also tendered documentary evidence, which was admitted by the court.
In his defence, Nwabuisi claimed that he believed the money was a benefit accruing to him for operating a Point of Sale (POS) business with the bank.
