Former FCMB manager, Placidus Nwachukwu, receives a staggering 121-year sentence for a N112 million fraud case. The verdict triggers public uproar, with Nigerians questioning the severity of the punishment and the delayed justice system.
The Anambra High Court has handed down a hefty 121-year prison sentence to Nwachukwu Placidus, a former First City Monument Bank (FCMB) manager. Placidus was found guilty of misappropriating funds totaling over N112 million, which belonged to a customer of Idemili Microfinance Bank.
The court heard that between February 2009 and November 2014, Placidus, while serving as the branch manager of FCMB in Onitsha, Anambra State, deceitfully diverted the substantial sum for his personal use.
The Enugu zonal command of the Economic and Financial Crimes Commission (EFCC) led the prosecution and leveled 16 charges against Placidus, including forgery, stealing, and obtaining by pretense. Despite initially pleading not guilty, the court found Placidus guilty beyond a reasonable doubt. In addition to the severe prison sentence, the presiding judge, S. N. Odili, mandated Placidus to repay the full amount fraudulently obtained from Idemili Microfinance Bank.
This landmark ruling serves as a stern warning against financial malpractice and underscores the judicial system's commitment to upholding integrity and accountability in banking institutions.
