Nwachukwu Placidus, former bank manager, has been sentenced to 121 years in prison following misappropriation of N112,100,000 in fixed deposit funds belonging to a customer, which he used for personal gain.
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Placidus, who formerly held the position of manager at the Onitsha branch of First City Monument Bank (FCMB), was handed this sentence by Justice S. N. Odili of the Anambra State High Court in Onitsha on Friday, May 3, 2024.
Placidus was apprehended following a petition by Idemili Microfinance Bank LTD to the Economic and Financial Crimes Commission (EFCC).
The EFCC Spokesperson, Dele Oyewale, revealed this in a statement on Saturday, May 2, elaborating that Placidus faced arraignment on 16 charges, including forgery, theft, obtaining by pretense, and uttering.
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 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.”
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Upon the reading of the charges, he entered a plea of not guilty, marking the commencement of his trial.
During the trial proceedings, the EFCC, represented by its counsel Mainforce Adaka Ekwu, called upon four witnesses and submitted several relevant documents, all of which were accepted as evidence.
Justice Odili declared, “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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