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FCMB Manager Bags 121 Years Jail Term For Stealing Customer’s 112 Million Naira



FCMB Manager Bags 121 YearS Jail Term For Stealing Customer's 112 Million Naira
Nwachukwu Placidus, a former manager of FCMB in Onitsha: Jailed 121 years for stealing N112 million belonging to a customer.

A former manager of the First City Monument Bank (FCMB) Nwachukwu Placidus, has been sentenced to a cumulative 121-year imprisonment for stealing hundred and twelve million naira (112 million) belonging to a customer.

Dele Oyewale, the spokesperson for the Economic and Financial Crimes Commission (EFCC) in a statement, said Placidus was arrested following a petition by Idemili Microfinance Bank LTD to the EFCC.

The management of the Microfinance back said the sum of N112million was handed over to him as the branch manager of FCMB in Onitsha, for fixed deposit.


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

“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,” Oyewale said.

Consequently, 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 EFCC.


One of the counts reads: “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) One Hundred and Twelve Million, One Hundred Thousand Naira only, 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”.

He pleaded not guilty to the charges when they were read to him, thus setting the stage for his trial.

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


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

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