In a significant legal development, a 40-year-old banker named Andrew Nwadiashi has been handed a two-year prison sentence for wrongfully debiting a customer’s account with a sum of ₦9,354,000.00 in Benin City, Edo State. The verdict was delivered by Justice M. Itsueli of the Edo State High Court in Benin City on Friday, following a case brought by the Economic and Financial Crimes Commission (EFCC).
Nwadiashi, who formerly served as the Head of Non-Financial Transactions at First Bank’s Warri branch in Delta State, was among a group of nine individuals convicted and sentenced. The other eight defendants are Osawa Marvellous, Etinosa Ogieva, Erharruyi Osaigbovo, Isaac Godstime Eghosa, Obasohan Kelvin, Evans Jessa Mike, Timothy Odion, and Festus Efe Iyengunmwena.
The case against Nwadiashi was initiated based on a complaint lodged by First Bank in 2020. The bank accused him of breaching its policies and unlawfully debiting a customer’s account with the aforementioned sum. During the investigation, Nwadiashi admitted to the offense.
The charges against the defendants included a range of offenses, such as stealing, retaining proceeds from illicit activities, and possessing fraudulent documents, particularly related to internet fraud activities. These charges were filed by the Benin Zonal Command of the EFCC.
Upon their arraignment, all defendants pleaded guilty to the charges brought against them. The prosecution team, comprising I. M. Elodi, IK Agwai, K.Y. Bello, and Ibrahim Faisal, requested appropriate convictions and sentences for the individuals.
In the court’s judgment, Justice Itsueli sentenced Nwadiashi to two years in prison or a fine of ₦200,000. Nwadiashi had already made full restitution by paying ₦9,654,000.00, comprising the principal sum and interest, to the victim.
The other defendants faced varying sentences based on the charges against them. Marvellous, Odion, Ogieva, and Iyengunmwena were each sentenced to three years in prison, with the option of a ₦300,000 fine. Osaigbovo and Mike received the same three-year prison term, with a ₦200,000 alternative fine. Eghosa and Kelvin were each sentenced to one month in prison, coupled with a ₦200,000 fine.
Furthermore, Justice Itsueli ordered the forfeiture of assets, including vehicles such as a Toyota Lexus ES 330 and a Lexus E350, phones, laptops, and remaining balances in the convicts’ bank accounts, to the Federal Government of Nigeria. This verdict underlines the serious consequences for financial crimes and fraudulent activities in Nigeria’s legal system.
