Abia’s businessman tells how his N550m has disappeared in First Bank

A businessman from Abia, Eke Agbai Eke, sued the First Bank of Nigeria for an alleged fraudulent sampling of N550 million from his fixed deposit account at the former Banca of the Bank’s branch, now transferred to Uzuakoli.

In his case, presented by his lawyer, Ebuka Nwaeze, the applicant said that First Bank refused to return his deposit, which he originally placed in the Abribiba branch to help support the bank’s presence in his community.

The applicant declared that as a leader of the community he saw the deposit as a contribution to local development.

The alleged fraud went to light in December 2023 when Eke discovered that he could no longer access his personal account through the bank’s mobile app and was unable to reach the corporate development manager.

After visiting the Gwarinpa branch of the First Bank in Abuja, according to reports it was informed that the N550 million had been withdrawn from its fixed deposit in six consecutive transactions, even if it was in Umuaia at the time of unauthorized deductions.

Following this discovery, Eke requested the liquidation of his fixed deposit, but the months have passed without any action by the bank.

After multiple complaints, First Bank started an internal investigation, which led to the dismissal of no less than nine high officials presumably related to fraud.

While First Bank’s legal consultant refused to comment, the actor’s lawyers have now led the question to the attention of the public.

Source:
https://www.thisDaylive.com/index.php/2025/03/14/Abia-businessman-my-n550-million-missing-in-birst-Bank/