An Abia-based businessman, Eke Agbai Eke, has filed a lawsuit against First Bank of Nigeria over an alleged fraudulent withdrawal of N550 million from his fixed deposit account. The funds, which were originally placed at the bank’s now-closed Abiriba branch, were withdrawn through a series of transactions that Eke claims he did not authorize.
The lawsuit, filed by Eke’s lawyer, Ebuka Nwaeze, alleges that despite repeated requests, the bank has failed to return the withdrawn sum. Eke, a well-respected community leader, had placed the deposit with the Abiriba branch as part of his effort to support the local economy and ensure the bank’s continued presence in the area.
The fraudulent activity reportedly came to light in December 2023 when Eke discovered that he could no longer access his account through the bank’s mobile application. Further attempts to contact the Business Development Manager at the branch were unsuccessful. Upon visiting First Bank’s Gwarinpa branch in Abuja, Eke was informed that a total of N550 million had been withdrawn in six separate transactions from his fixed deposit, despite the fact that he was in Umuahia at the time of the deductions.
Eke immediately demanded that the bank liquidate his fixed deposit and return the funds, but according to him, several months passed without any action from First Bank. After multiple complaints, the bank initiated an internal investigation, which resulted in the dismissal of fewer than nine senior staff members who were allegedly involved in the fraudulent activity.
The case is now before the Abia State High Court, sitting in Umuahia. On Tuesday, the court adjourned the matter to March 26 and April 2 for the commencement of the hearing. The case, marked HU/233/2024, revolves around Eke’s claim that the bank has refused to release his N550 million deposit, which he had intended to use to contribute to the development of his community.
During Tuesday’s proceedings, both parties were present in court. The presiding judge, Justice U.D. Enwereji, adjourned the case to ensure that all evidence is properly presented and the matter is fully heard.
The bank’s legal counsel declined to comment on the case, but Eke’s lawyers have publicly expressed confidence in their client’s position. The outcome of this case is now eagerly awaited, as it could have significant implications for both the banking industry and the local community in Abia State.
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