The Economic and Financial Crimes Commission (EFCC) has secured the conviction and sentencing of Chinedu Francis Nwabuisi to two years’ imprisonment for diverting N21.9 million mistakenly credited to his bank account for personal use.

The commission announced this in a statement issued on Tuesday, November 10, 2026.

According to the EFCC, Justice Irele Ifijeh of the Edo State High Court sitting in Benin City found Nwabuisi guilty and sentenced him to two years in prison without an option of fine.

The commission explained that the N21.9 million was wrongly credited to Nwabuisi’s account following a system glitch at First Bank Plc.

Nwabuisi was later arraigned by the EFCC’s Benin Zonal Directorate for allegedly converting the funds to his personal use.

During the trial, prosecution counsel, M.S. Dahiru, called two witnesses, including a senior First Bank official and an EFCC operative. Several documents were also tendered and admitted as exhibits.

In his defence, Nwabuisi reportedly told the court that he thought the money was proceeds from his Point of Sale (POS) business dealings with the bank.

However, Justice Ifijeh found him guilty and handed him a two-year jail term without an option of fine.