First Bank Sued By Customer Over Alleged Unauthorised Withdrawal Of N55m From His Account

An Abia based businessman, Mr Eke Agbai Eke, has dragged First Bank Plc to court over an alleged fraudulent withdrawal of his N55 million from his account with the former Abiriba branch of the bank which has now been relocated to Uzuakoli.

In the suit, filed by his lawyer, Ebuka Nwaeze, the claimant stated that First Bank has refused to return his deposit, which he originally placed at the Abiriba branch to help sustain the bank’s presence in his community.

Eke further said that as a community leader, he viewed the deposit as part of his contribution to the development of his local community.

He said that alleged fraud came to light in December 2023 when he realised that he could no longer access his personal account through the bank’s mobile app and was also unable to reach the Business Development Manager.

Eke explained that upon visiting First Bank’s Gwarinpa branch in Abuja, he was reportedly informed that N55 million had been withdrawn from his fixed deposit in six consecutive transactions—even though he was in Umuahia at the time of the unauthorized deductions.

The claimant said that upon the discovery, he immediately demanded the liquidation of his fixed deposit, adding however, that several months after, there was no action of communication from the bank.

Eke said that he became curious in spite of the multiple complaints le lodged, First Bank only told him later that it has launched an internal investigation, which resulted in the dismissal of no fewer than nine senior officials allegedly linked to the fraud.

He said he also petitioned the Central Bank of Nigeria to intervene on the unwholesome practice but nothing came out of it which made him to get more worried.

However, First Bank in a statement by Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications, titled; “Allegations of Fraud Unfounded and False”, the bank described the allegations as false and unfounded.

First Bank explained that its findings on the matter revealed that an unprofessional and unethical dealings between Dr. Agbai Eke and a former employee with the bank using a personal relationship to facilitate unauthorized transactions outside the bank’s knowledge or involvement.

According to First Bank; “We have been made aware of a recent publication by Thisday Newspaper, Arise Television and a circulating video regarding a court case filed by a customer, Dr. Agbai Eke, against FirstBank.

“As the matter is currently before the Court, we will refrain from further comments to allow the Court to dispassionately determine the issues before it.

“The Bank has equally filed a report to law enforcements for further proper investigations and the suspects have made useful statements while the investigations are ongoing.

“FirstBank remains committed to transparency, accountability, and the protection of its customers’ interests. We assure our stakeholders that we operate with the highest standards of integrity and professionalism,” it said.