First City Monument Bank (FCMB), has recorded a feat like no other financial institution in Nigeria.
Unfortunately, it’s not a positive achievement. Today, the bank holds the record for producing the banker with the longest jail term.
Why Nigeria Cannot Make Any Progress- Oyegbami
This follows a judgement delivered by Justice S. Odili of the Anambra State High Court in Onitsha, Anambra State, against a branch manager of the bank in person of Nwachukwu Placidus.
Placidus was jailed by Justice Odili for fraud and embezzlement.
The bank branch manager was sentenced to a total of 121 years in prison for embezzling N112 million from a customer’s fixed deposit account.
The suspect was found guilty of misappropriating fixed deposit funds totaling N112,100,000 from a customer for personal use and was jailed.
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