CASE NUMBER 10926:

STERLING BANK MANAGER JAILED 8 YEARS FOR STEALING N219MILLION

Alleged Perpetrators(s)

Mr. Anidiobi Oliver Chukwuka

Location (Town / State)

Enugu State, Enugu

Date of Event

02 Nov 2021

Date of republication

02 November every year

Case category (Choose all that apply)

Case Summary

The Enugu State High Court, has sentenced a former Sterling Bank Manager and Account Relationship Officer of OHHA Microfinance Bank, Anidiobi Oliver Chukwuka, to eight years imprisonment for stealing N219 million.

Full story

The former bank manager of the Sterling Bank PLC, Enugu branch has been arraigned on a 32 counts charge by EFCC before the Enugu State High Court where he was convicted and sentenced to eight years’ imprisonment for stealing and fraud. It was gathered that the convict used his position to smartly convince the microfinance bank to deposit the said N219 million through him and thereafter converted it to personal use between August 15, 2014 and November 16, 2017. The said money belonged to customers of Ohha Microfinance Bank Limited, Enugu retained in a fixed deposit account with Sterling Bank Plc. He further forged a deposit certificate to deceive the microfinance bank.
According to EFCC’s statement, with the money, the convict built a block of five flats, acquired several plots of land along the Enugu Port Harcourt Expressway, and an uncompleted four-bedroom bungalow at Centenary Estate, Enugu. He was also said to have invested N65 million in a Ponzi Scheme called ‘Let’s Partner with You’ owned by one Patrick Nwokike. In quick response to the issue at hand, EFCC said that “an estate valuer is to evaluate the defendant’s properties at his village, Centenary city Enugu and Premier Layout, New Artisan Enugu; to help determine their values so that they can be sold and the proceeds paid in restitution to OHHA microfinance bank.
According to the counsel for the Microfinance bank, Mr. Olu Omotayo, EFCC got a petition with respect to the case on January 2018 after being investigated by the Enugu zonal office of the agency. But the case was subjected to further thorough investigation by the chairman of the agency. “Sequel to the outcome of further investigations, EFCC, through its prosecuting counsel and Chief Legal Officer, Michael Ani, filed a 32 count charge of stealing by conversion, obtaining by false pretences and forgery against the convict, which led to the arraignment of the convict before Justice Ajah on May 7, 2019.
During the trial, five witnesses were presented and 75 exhibits tendered by the prosecuting counsel Michael Ani, while the defendant testified for himself. The trial judge, Justice Cyprian Ajah, in his verdict, said “the accused person did not deny nor challenge the allegations made by the EFCC.” He added, “Any evidence not challenged is admitted as true. I am duty-bound to establish the evidence presented by the prosecution. The evidence is strong and compelling to grant conviction.”
The judge therefore convicted the former bank manager, Mr. Chukwuma of all the 32 counts leveled against him by EFCC. The convict was sentenced to four years’ imprisonment each for counts 1 to 14; four years each for counts 15 to 28 bordering on obtaining by false pretenses and eight years for counts 29 to 32 bordering on forgery. The sentences are to run concurrently.

External links/URLs

https://theeagleonline.com.ng/sterling-bank-plc-ex-manager-jailed-for-n219m-fraud/ https://punchng.com/sacked-bank-manager-sentenced-to-eight-year-imprisonment-for-stealing-n219m/

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