By Rhoda Godwin
Abuja — A system glitch at First Bank has reportedly resulted in the accidental transfer of N1.3 billion into the bank account of one Ojo Eghosa Kingsley, triggering a swift investigation by the Economic and Financial Crimes Commission (EFCC).
According to the EFCC, the unexpected inflow of funds allegedly sparked a rapid spending spree by the beneficiary before authorities intervened. Investigators said Kingsley diverted substantial portions of the money to the accounts of his mother, Itohan Ojo, and his sister, Edith Okoro Osaretin.
The anti-graft agency further disclosed that part of the funds was used to complete an ongoing building project and to bankroll what it described as a suddenly flamboyant lifestyle.
First Bank reportedly detected the anomaly and promptly alerted the EFCC, leading to the launch of an investigation and the tracing of the funds across multiple accounts.
The EFCC confirmed that a total of N802 million has so far been recovered and returned to the bank, while efforts are ongoing to track and retrieve the remaining balance.
The commission stated that the suspects would be charged to court upon the conclusion of investigations, warning members of the public to promptly report and return any funds mistakenly credited to their accounts, as retaining or spending such money constitutes a criminal offence.
Meanwhile, First Bank has assured customers that internal processes are being reviewed to prevent a recurrence of such system errors.
