A Cross River State High Court sitting at Akamkpa, on Friday, sentenced a certain Augustine Effiong Bassey, an ertswhile bank manager at Ekondo Microfinance bank, to five years imprisonment.
Bassey was found culpable of funneling away N27 million belonging to a microfinance bank where he was a branch manager.
He was prosecuted by the Enugu Zonal Office of the Economic and Financial Crimes Commission (EFCC) on a one-count charge of stealing.
According to EFCC’s report, sometime between 2010 and 2012 at Uyanga, Cross River State, Mr. Effiong stole the N27,300,000 being belonging to Ekondo Microfinance Bank Limited.
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Eko Hot Blog gathered that Mr. Effiong did this by personally moving the sum from the bank’s vault and then gave it to his fronts for execution of non-existent contracts for the bank.
The disgraced banker was arrested in July 2016 by the EFCC upon intelligence.
His offence was contrary to 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.
Effiong pleaded “not guilty” when the charge was read to him.
The prosecution counsel, Fortune Amina Asemebo, however, proved the case beyond reasonable doubt.
Ruling Justice Adie A. Onyebueke convicted and sentenced Bassey, with an option of restituting N15 million to Ekondo Microfinance Bank.
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