An Abia businessman, Eke Agbai Eke, has sued First Bank of Nigeria over an alleged fraudulent withdrawal of N550 million from his fixed deposit account at the bank’s former Abiriba branch, now relocated to Uzuakoli.
In his lawsuit, filed by his lawyer, Ebuka Nwaeze, the claimant stated that First Bank has refused to return his deposit, which he originally placed at the Abiribabranch to help sustain the bank’s presence in his community.
The claimant stated that, as a community leader, he viewed the deposit as contributing to local development.
The alleged fraud came to light in December 2023 when Eke discovered he could no longer access his personal account through the bank’s mobile app and was unable to reach the Business Development Manager.
Upon visiting First Bank’s Gwarinpa branch in Abuja, he was reportedly informed that N550 million had been withdrawn from his fixed deposit in six consecutive transactions—even though he was in Umuahia at the time of the unauthorized deductions.
Following this discovery, Eke demanded the liquidation of his fixed deposit, but months passed without any action from the bank.
After multiple complaints, First Bank launched an internal investigation, which resulted in the dismissal of no fewer than nine senior officials allegedly linked to the fraud.
While First Bank’s legal counsel declined to comment, the plaintiff’s lawyers have now brought the matter to the attention of the public.
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
