A Nigerian man, Chinedu Francis Nwabuisi, has been sentenced to two years in prison without the option of a fine after spending over ₦21.9 million mistakenly credited to his bank account.
Bank system glitch and illegal conversion
The conviction was secured by the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) before Justice Irele Ifijeh of the Edo State High Court in Benin City.
According to details released by the anti-graft agency on Tuesday, November 10, 2026, the sum of ₦21,939,732.27 was erroneously transferred into Nwabuisi’s account due to an operational system glitch at First Bank Plc. Rather than reporting the error, the convict converted the entire sum to his personal use.
Defence rejected in court
During the trial, prosecution counsel M.S. Dahiru presented two key witnesses—a senior First Bank official and an EFCC investigator—alongside documentary evidence proving the unauthorised withdrawals.
In his defence, Nwabuisi claimed he genuinely believed the multi-million Naira windfall was accumulated profit from his Point of Sale (POS) business operations with the financial institution.
Final verdict and refund order
Delivering judgment, Justice Ifijeh rejected his defence, convicting Nwabuisi and handing him a strict two-year prison sentence with no fine option.
In addition to serving time, the court ordered the convict to make full restitution by refunding the entire ₦21.9 million to First Bank Plc.
To read more exciting updates and videos, join our official Telegram channel.
Discover more from MicroSecondNews
Subscribe to get the latest posts sent to your email.
