Ex-FCMB Manager Jailed 121 Years For Stealing Customer’s N112m

A former manager with a branch of First City Monument Bank (FCMB), in Onitsha, Anambra State, Nwachukwu Placidus, has been sentenced to a cumulative 121 years imprisonment for stealing N112 million belonging to a customer.

Placidus was arraigned on Tuesday, March 27, 2018, on 16-count charges bordering on forgery, stealing, obtaining by false pretence, and uttering, by the Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC.

According to the report, the convict was arrested following a petition by Idemili Microfinance Bank LTD to the Economic and Financial Crimes Commission (EFCC).

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The management of the Microfinance back said the sum of N112 million was handed over to the convict as the branch manager of FCMB in Onitsha for a fixed deposit.

The petitioner, however, said when the FCMB was approached to terminate and withdraw the deposit, the bank denied receiving the said funds.

Dele Oyewale, spokesperson for the EFCC, said in a statement, “Upon receipt of the petition, the EFCC swung into action, and investigations revealed that the convict diverted the money for his own use and issued a fake fixed Deposit Certificate to the petitioner.”

The convict had earlier pleaded not guilty to the charges.

Justice S. N. Odili of the Anambra State High Court sitting in Onitsha, Anambra State, while delivering his judgment, 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 sum to his victim, Idemili Microfinance Bank.