Court Jails Former Bank Manager 121 Years for N112m Fraud

The Anambra State High Court sitting in the Onitsha area of the state has sentenced a former bank manager, Nwachukwu Placidus, to a cumulative 121 years imprisonment for diverting fixed deposit funds of a customer to the tune of N112,100,000 for his personal use.

The presiding judge, Justice S. N. Odili, sentenced Placidus sentenced to jail on Friday, May 3, 2024.

The former bank manager was arraigned 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) on March 27, 2018.

One of the counts read: “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.”

Placidus, according to a statement issued by the EFCC spokesperson, Dele Oyewale, on Saturday, May 4, pleaded not guilty to the charges when they were read to him, setting the stage for his trial.

In the course of his trial, the EFCC, through its counsel, Mainforce Adaka Ekwu, presented four witnesses and tendered several relevant documents which were admitted in evidence.

In his judgement, Justice Odili held that “the prosecution proved its case beyond reasonable doubt” and sentenced Placidus to nine years imprisonment on count 3, four years on count 4, and nine years on counts 5 to 16, respectively. He was discharged on counts 1 and 2.

The judge added that the sentences will run concurrently.

Justice Odili further ordered the convict to restitute N112 million to his victim, Idemili Microfinance Bank.