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Bank Manager Jailed 5 Years For Stealing N27m

A bank manager has been jailed for five years after being found to be guilty of stealing a whooping N27 million.

The sentence was given by Justice Adie A. Onyebueke of the Cross River State High Court, Akamkpa.

The bank manager is known as Augustine Effiong Bassey and the money he stole belongs to a microfinance bank, where he was a branch manager.

His charge reads;


“That you, Augustine Effiong Bassey (‘m’), sometime between 2010 and 2012 at Uyanga, Cross River State, within the jurisdiction of the High Court of Cross River State, with the intent to defraud, stole the sum of N27,300,000 (Twenty-seven Million, Three Hundred Thousand Naira), being property of Ekondo Microfinance Bank Limited and thereby committed an offence punishable under Section 390 of the Criminal Code law, CAP C16 (VOL 3) of the Laws of Cross River State of Nigeria,2004 and punishable under Section 390(9) of the same Law.”


During interrogation at the EFCC office, he pleading not guilty. The officials of the EFCC had no option than to initiate his trial.

During the trial, the prosecution counsel presented mind-blowing evidence that incriminated the bank manager and he was given the jail term or an option of restituting the sum of N15 million to Ekondo Microfinance Bank.


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