Face Of Augustine, The Bank Manager Who Was Sentenced To 5 Years In Prison For N27m Fraud

Augustine Effiong Bassey, director of a bank branch, has been sentenced to five years in prison.

He was sentenced by Cross River State Superior Court Judge Adie A. Onyebueke, Akamkpa, on Friday.

Bassey was found guilty of stealing N27 million from a microfinance bank where he was a branch manager.

He was prosecuted by the Enugu Zonal Office of the Economic and Financial Crimes Commission (EFCC) on one charge of theft.

According to EFCC, sometime between 2010 and 2012 in Uyanga, Cross River State, Bassey stole the N27,300,000 that were owned by Ekondo Microfinance Bank Limited.

He did this personally carrying the sum from the bank vault and handed over his foreheads for the execution of non-existent contracts for the bank.

The disgraced banker was arrested in July 2016 by the EFCC for intelligence.

His offense was contrary to Section 390 of the Penal Code Act, CAP C16 (VOL 3) of the Laws of the Cross River State of Nigeria, 2004 and punishable under Section 390 (9) of the same act.

The defendant pleaded “not guilty” when the charge was read to him.

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

Judge Onyebueke convicted and sentenced Bassey, with the option of restoring 15 million naira to Ekondo Microfinance Bank.