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Court sentences banker to five years imprisonment for N27m theft

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The Cross River State High Court, Akamkpa, on Friday sentenced one Augustine Effiong Bassey to five years imprisonment for stealing N27 million belonging to a microfinance bank.

Bassey, who was the branch manager of Ekondo Microfinance Bank in Uyanga, Cross River, was arraigned by the Economic and Financial Crimes Commission (EFCC) on a one-count charge of stealing.

The commission alleged that the banker used his position to convert the bank’s money to his personal use.

The offence, according to EFCC, 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.

READ ALSO: EFCC arraigns man for alleged N11m fraud

The convict pleaded not guilty to the charge.

But the prosecution counsel, Fortune Amina Asemebo, proved the case beyond a reasonable doubt.

In his ruling, Justice Adie A. Onyebueke sentenced Bassey to five years imprisonment, with an option of restituting N15 million to the bank.

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