Home News Corruption NIGERIA: Former FCMB Manager Receives 121-Year Jail Term for Embezzling N112 Million
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NIGERIA: Former FCMB Manager Receives 121-Year Jail Term for Embezzling N112 Million

ByMay 4, 20241 Mins read4 Views
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WRITTEN BY: CHIOMA MADONNA NDUKWU

Nwachukwu Placidus, a former manager at First City Monument Bank (FCMB) in Onitsha, has been sentenced to 121 years in prison for diverting N112,100,000 of a customer’s fixed deposit funds for personal use.

The judgment was delivered by Justice S. N. Odili of the Anambra State High Court following Placidus’ arraignment by the EFCC. Placidus was found guilty on multiple counts including forgery, stealing, and obtaining by false pretense. He has been ordered to restitute the misappropriated funds to the victim, Idemili Microfinance Bank.

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