Former Bank Manager Sentenced to Over a Century in Prison for N112 Million Fraud

A former bank manager, Nwachukwu Placidus, has been sentenced to a staggering 121 years in prison. The Anambra State High Court found Placidus guilty of diverting a customer’s fixed deposit funds totaling N112,100,000 for his personal enrichment.

The Economic and Financial Crimes Commission (EFCC), through its spokesperson Dele Oyewale, confirmed the sentencing on Saturday, May 4. The case, which has sent shockwaves through the banking sector, highlights the EFCC’s relentless pursuit of corrupt financial practices and its commitment to ensuring accountability within the nation’s financial institutions.

Placidus’s conviction is not just a victory for the EFCC but also serves as a stern warning to individuals in positions of trust. The judiciary’s decision to impose such a lengthy sentence reflects the seriousness with which financial crimes are now being treated in Nigeria.


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