Details as Onitsha Former Bank Manager Sentenced to 121 Years for Fraud

In a recent court ruling at the Anambra State High Court in Onitsha, Justice S. N. Odili sentenced ex-bank manager Nwachukwu Placidus to a total of 121 years in prison for misappropriating N112 million from customer deposits.

The former manager at First City Monument Bank, Onitsha branch, was found guilty of multiple charges including forgery, theft, and obtaining money by false pretenses.

The case, led by the EFCC’s Enugu Zonal Command, began when Idemili Microfinance Bank alleged that Placidus, entrusted with N112,100,000 for a fixed deposit, diverted the funds for personal use. The bank’s attempt to withdraw the money revealed that it had never been deposited, and a counterfeit deposit certificate was discovered.

During the trial, the EFCC presented four witnesses and numerous documents proving Placidus’s fraudulent activities. Despite his not guilty plea, the court concluded that the evidence against him was overwhelming.

Justice Odili delivered a judgment that found Placidus guilty on multiple counts, leading to sentences of nine years on the third count, four years on the fourth, and nine years on counts five through sixteen, all to be served concurrently. He was acquitted on the first two counts.

Furthermore, the court mandated Placidus to make restitution to Idemili Microfinance Bank, ensuring the recovery of the stolen funds.