Fraud Alert: Fidelity Bank Staff Faces Trial For Alleged Embezzlement of Customer’s N2.7 Billion

The trial date for a Fidelity Bank staff identified as Mr Christopher Jackson Edeh accused of altering customer’s accounts to embezzle 2.7 billion Naira has been set for May 30, 2024.

The Economic and Financial Crimes Commission (EFCC) says Mr Edeh attempted to defraud Nigeria’s business mogul, Alhaji Aliko Dangote’s Cement company, the Lagos state government, Kano state government, among others. Mr Edeh is accused of committing the crime while working as staff of Fidelity Bank year.

The anti-graft agency who arraigned the said Edeh before a Federal High Court sitting in Ikeja, Lagos state consequently slammed a nine-count charges bordering on fraudulent false accounting contrary to Section 337 of the Criminal Law of Lagos State.

The accused erstwhile staff of Fidelity Bank is also being charged for gaining unauthorised access to a computer contrary to Section 387 of the Criminal Law of Lagos State, among other inappropriate conduct.

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The antigraft agency revealed that its investigation shows that Mr Edeh, an ex- staff of Fidelity Bank, allegedly attempted to alter the bank account of Dangote Cement PLc.

According to the anti-graft agency, the bank staff made conscious attempts to remove a total of N2,737,784,800.00 from Dangote Cement’s Fidelity account last year while serving as a staff of the Bank.

The EFCC in the lawsuit filed on February 28, 2024, also alleged that Edeh had the intent to alter the bank account details of other entities including the Kano State Government’s Power Intervention Fund, NNPC Trading Limited, Stallion Vision Ltd, the Lagos State Government’s Blue Line, State Contributory Pension Account, and Chukwuemeka Odumegwu Ojukwu’s University.

One of the charges reads: “That you Christopher Jackson Edeh, sometime in September 2023 in Lagos within the jurisdiction of this Honourable Court, whilst in the employment of Fidelity Bank Plc, with intent to defraud, altered the customer account details of Dangote Cement Plc in possession of Fidelity Bank.”

Another charge reads: “Christopher Jackson Edeh, sometime in September 2023 in Lagos within the jurisdiction of this Honourable Court with intent to facilitate the stealing of the total sum of N2,737,784,800.00 (Two Billion, Seven Hundred and Thirty-seven Million, Seven Hundred and Eighty-four Thousand, Eight Hundred Naira) kept in custody of Fidelity Bank Plc, secured the unauthorized access to Entrust portal of Fidelity Bank Plc.”

He pleaded “not guilty” to the charges when they were read to him.

Expectedly, this development has triggered a chain of integrity concerns as to how a staff of Fidelity Bank who should be well-trained and home to ethical financial behaviour is allegedly involved in such high-scale fraudulent deal.

According to concerned stakeholders, this inappropriate behavior calls for more scrutiny and reputational audit of many financial institutions in order to guard the reputation of not just the organization but also that of Nigeria which the Federal Government is seriously working to shore up and attract foreign investors.

“Government is doing everything to attract Foreign investors but look at the kind of stories we read here at the domestic front of a banker who ought to be the custodian of your funds is caught allegedly attempting to steal customers funds! Too bad! We just have to clean up the domestic front in order to realize the Renewed Hope Agenda of Mr President! The Banks themselves must be serious and come ckean,”said an economist in Lagos.

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It would be recalled that following his plea, counsel to the EFCC, Mr Z.B. Atiku, informed the court that the prosecution was ready to prove its case against the defendant.

However, the defence had later informed the court of the bail application of the defendant, prompting the court to adjourn till Tuesday, March 19, 2024, for a hearing of the application.

At the resumed hearing of the bail application, defence counsel, G.A. Daniel moved the bail application of his client and urged the court to grant bail as the offence was a bailable one.

Ruling on the application, Justice Abike-Fadipe granted him bail in the sum of N5 million, with two sureties in like sum, one of whom must be a blood relation to the defendant.

“The sureties shall depose to an affidavit of means, must be gainfully employed and resident within the jurisdiction of the court, must show evidence of tax payment for over the last three years to the Lagos State,” the trial judge added.

Justice Abike-Fadipe thereafter adjourned the case till May 30 and June 6, 2024, respectively, for the commencement of trial.