LAGOS MARCH 17TH (NEWSRANGERS)-An Abia businessman, Eke Agbai Eke, has sued First Bank of Nigeria over an alleged fraudulent withdrawal of N550 million from his fixed deposit account at the bank’s former Abiriba branch, now relocated to Uzuakoli.
In his lawsuit, filed by his lawyer, Ebuka Nwaeze, the claimant stated that First Bank has refused to return his deposit, which he originally placed at the Abiriba branch to help sustain the bank’s presence in his community.
The claimant stated that as a community leader, he viewed the deposit as a contribution to local development.
The alleged fraud came to light in December 2023 when Eke discovered he could no longer access his personal account through the bank’s mobile app and was unable to reach the Business Development Manager.
Upon visiting First Bank’s Gwarinpa branch in Abuja, he was reportedly informed that N550 million had been withdrawn from his fixed deposit in six consecutive transactions—even though he was in Umuahia at the time of the unauthorized deductions.
Following this discovery, Eke demanded the liquidation of his fixed deposit, but months passed without any action from the bank.
After multiple complaints, First Bank launched an internal investigation, which resulted in the dismissal of no fewer than nine senior officials allegedly linked to the fraud.
While First Bank’s legal counsel declined to comment, the plaintiff’s lawyers have now brought the matter to the attention of the public.
But reacting reacting to the allegation in Punch publication, the Acting Group Head, Marketing and Corporate Communications of the bank, Olayinka Ijabiyi, in a statement on Friday, said the FBN’s internal findings indicated that the issue stemmed from “unprofessional and unethical dealings” between Eke and a former employee of the bank.
According to the bank, the transactions in question were facilitated through a personal relationship and occurred outside its knowledge or involvement.
“Our findings on the matter indicate unprofessional and unethical dealings between Dr. Agbai Eke and a former FirstBank employee, using a personal relationship to facilitate unauthorised transactions outside the bank’s knowledge or involvement.
“As the matter is currently before the court, we will refrain from further comment to allow the court to dispassionately determine the issues before it,” the statement read.
FirstBank further disclosed that it had filed a report with law enforcement agencies to ensure a proper investigation, noting that the suspects have already provided “useful statements” to aid the probe.
Reaffirming its commitment to transparency and accountability, the bank assured its stakeholders that it would continue to operate with “the highest standards of integrity and professionalism” while working to protect its customers’ interests.
ThisDay & Punch
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