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Bank manager sentenced five years for N27m theft

One Augustine Effiong Bassey has been sentenced to five years imprisonment for stealing N27 million, belonging to a microfinance bank, where he was a branch manager.

A statement by Wilson Uwujaren, the Economic and Financial Crimes Commission’s (EFCC’s), Head, Media and Publicity on Friday, said Bassey was convicted by Justice Adie A. Onyebueke of the Cross River State High Court, Akamkpa.

He added that the Enugu zonal office of the commission secured the conviction on a one-count charge of stealing levelled against the convict.

The charge read, “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.”

Read also: EFCC arraigns bank manager for alleged theft of $50,000

“He pleaded not guilty to the charge, thus setting the stage for his trial.

“With prosecution counsel, Fortune Amina I. Asemebo proving the case beyond reasonable doubt, Justice Onyebueke convicted and sentenced him to prison, with an option of restituting the sum of N15 million to Ekondo Microfinance Bank.

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“Bassey’s journey to prison began sometime in July 2016 when he was arrested by the EFCC upon intelligence that he used his position as the branch manager of Ekondo Microfinance Bank, Uyanga, Cross Rivers State to convert the sum of N27.3 million belonging to bank to his private use.

“He did this by personally carting away the sum from the bank’s vault and gave to his fronts for execution of non-existent contracts for the bank,” the statement read.

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