A once-prominent bank manager, Nwachukwu Placidus, has had his world turned upside down after he was sentenced to a staggering 121 years in prison for a crime of pure avarice and betrayal. Placidus, in a flagrant violation of trust, diverted a customer’s fixed deposit funds amounting to a staggering N112,100,000 (over $250,000 USD) for his own personal gain.
In a courtroom ruling that will resonate for generations to come, Justice S. N. Odili of the Anambra State High Court decreed a jaw-dropping 121-year prison sentence upon Nwachukwu Placidus, the erstwhile manager of First City Monument Bank’s Onitsha branch. The sentence, handed down on Friday, May 3, 2024, was the consequence of Placidus’ unlawful diversion of a staggering N112,100,000 from a customer’s fixed deposit account to his own use.
Nwachukwu Placidus found himself on the wrong side of the law after Idemili Microfinance Bank LTD filed a petition with the Economic and Financial Crimes Commission, EFCC. This damning revelation, which shone a spotlight on Placidus’ duplicitous behavior, triggered an investigation and ultimately led to his arrest, setting in motion the chain of events that would culminate in his harsh sentence.
Dele Oyewale, EFCC spokesperson, made the startling disclosure on Saturday regarding the twisted tale of Nwachukwu Placidus and his financial misdeeds. According to Oyewale’s statement, Placidus was indicted on 16 counts related to the nefarious activities of forgery, theft, fraud, and deceit. The intricate web of crimes, uncovered by EFCC’s investigations, exposed Placidus’ true nature as a conman of the highest order, whose misappropriation of his customer’s savings landed him in the proverbial hot seat of the judicial system.
“One of the counts reads: ‘Nwachukwu Placidus between February 2009 and November 2014 in Onitsha, Anambra State within the jurisdiction of the Anambra State High Court of Nigeria with intent to defraud obtained the sum of N112,100,000 from Idemili Microfinance Bank under the false pretence that you have placed the said money in a fixed deposit account with First City Monument Bank PLC for it, which pretence you knew to be false and you thereby committed an offence.
Upon being formally accused of the 16 counts against him, Nwachukwu Placidus, displaying an audacious defiance, pled not guilty to all charges. This staunch denial signaled the beginning of a protracted legal battle, as the Economic and Financial Crimes Commission (EFCC) geared up to prove Placidus’ culpability in the brazen theft of a customer’s savings. In a meticulous trial process, the EFCC’s prosecution, led by Mainforce Adaka Ekwu, presented compelling evidence, including eyewitness testimony from four individuals, as well as relevant documents, to expose the bank manager’s misdeeds.
Having weighed the evidence presented by the EFCC prosecution, Justice Odili declared a resounding conviction against Nwachukwu Placidus, finding him guilty on 14 out of the 16 counts of financial impropriety. Justice Odili’s decisive judgment imposed a cumulative sentence of nine years imprisonment on count 3 and an additional four years on count 4, while counts 5 to 16 each resulted in a nine-year prison term. However, Placidus was acquitted on counts 1 and 2. The sentencing structure was designed to be concurrent, reflecting the severity of the convict’s offenses.