Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank - Business

Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank (15416 Views)

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Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Estello(op): 1:35pm On Mar 18

A Nigerian businessman, Agbai Eke Agbai, has sounded the alarm over the alleged disappearance of N550 million he lodged in a fixed deposit account with First Bank of Nigeria.

Agbai explained that the deposit was made at the bank’s Abiriba branch after a request from a former Group Managing Director, who sought support to keep the branch operational in the community. He noted that a certificate confirming the transaction was issued at the time.

Trouble, however, began when he attempted to access the funds. During a visit to Abuja, he approached the bank for a withdrawal but was reportedly told that N55 million had already been taken from the account without his consent. Bank officials allegedly claimed the withdrawal was carried out by him at the Uzuakoli Road branch in Umuahia, a claim he rejected, insisting he was out of the country at the time.

Following an internal review, the bank reportedly acknowledged the unauthorized withdrawal and refunded the N55 million.

Despite the refund, Agbai said his concerns deepened when he later requested to close the fixed deposit account, only to be informed that the N550 million principal could not be traced.

The incident has raised fresh questions about accountability and internal controls within the banking system, with growing calls for a comprehensive investigation into the matter.

https://applesbite.com/businessman-raises-alarm-over-missing-n550m-fixed-deposit-at-first-bank/

5 Likes 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Damilola97(m): 1:40pm On Mar 18

Ahh this one pass see finish ooooo

10 Likes 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by presiade(m): 1:40pm On Mar 18

Stale news. How many years back was this reported? Clickbait!

Estello:
https://applesbite.com/businessman-raises-alarm-over-missing-n550m-fixed-deposit-at-first-bank/

12 Likes

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by KingAzubuike(f): 1:41pm On Mar 18

Inside job. When he travelled, they thought he was probably dead.

65 Likes 2 Shares

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Mckraz01: 1:41pm On Mar 18

Estello:
https://applesbite.com/businessman-raises-alarm-over-missing-n550m-fixed-deposit-at-first-bank/

Managers don share em naw.
Them think say the man don die 😂

23 Likes 3 Shares

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by stuffs2002: 1:41pm On Mar 18

Wawoooo...

That is a huge amount of money and heads will roll fa

12 Likes 2 Shares

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by born2reign001(m): 1:42pm On Mar 18

Everything is just upside down in this country. Even money is no longer safe in the bank. Wahala!

13 Likes 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Samuche2000: 1:43pm On Mar 18

Corruption in every nook and cranny of the country. Provide his principal sum

3 Likes

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by APOSTLECHUMA: 1:43pm On Mar 18

Jesus this is unbelievable,may God help us.

3 Likes

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by stuffs2002: 1:44pm On Mar 18

KingAzubuike:
Inside job. When he travelled, they thought he was probably dead.

Very likely what happened..

It is a good thing they didn't do their homework well before cleaning out the account. They could have investigated if he was still alive but they were greedy and sloppy.

14 Likes 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Sibrah: 1:44pm On Mar 18

Somebody reinvested your deposit without your consent. Probably with higher interest in view.

5 Likes 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Babangidapikin: 1:44pm On Mar 18

Hmmm and they were busy telling me to use a simple signature yesterday,that they always do fingerprint 🫆 verifications to avert fraud. So did they do a BVN finger print verification before moving this man's money.

17 Likes 3 Shares

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by SeunDeCraze: 1:45pm On Mar 18

Dis man damage control go reach 500m

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Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Breaker001: 1:45pm On Mar 18

This story is at least 4 years old 😎

8 Likes 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by iwaeda: 1:45pm On Mar 18

Half a billion just like that. Bankers are part of our corruption problem. grin

9 Likes 2 Shares

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by nedu666: 1:46pm On Mar 18

They assumed he was dead and chopped the account

3 Likes

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Personperson01: 1:48pm On Mar 18

Mumu your pikin enta bank make withdraws tell you say him win sportybet or client pay ham.... Big man big mumu

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Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by cybertyrant(m): 1:50pm On Mar 18

This is Nigeria for you, us the poor masses suffer from unauthorized withdrawal from banks everyday from untraced 20k to millions, no history whatsoever, the banks are aware of this and they acknowledge that it went missing, who then took it and how is it happening in a so called licensed commercial banks, no wonder they hate this microfinance banks because people prefer them now than going to banks and being told to fill this and fill that, come tomorrow, come next week, piling transportation cost, if it haven't happened to me I would perhaps doubt it a little but it has happened to me many times, name it, thank, zenith, UBA etc all thieves in suits, it is God that will deliver the black man from theft.

1 Like 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Countersam(m): 1:52pm On Mar 18

Estello:
https://applesbite.com/businessman-raises-alarm-over-missing-n550m-fixed-deposit-at-first-bank/

Abiriba people get money sha. Leefam!
Small london

3 Likes

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by atobs4real(m): 1:52pm On Mar 18

May be is part of what they used for recapitalization

1 Like 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Damseldammie(f): 1:56pm On Mar 18

This is unbelievable….
How could such huge money got missing in the bank❓
Hmmm

1 Like

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Dogalmighty17: 1:56pm On Mar 18

If Nigerian banks never do you strong things you no know wetin God do for you.

1 Like 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by muyico(m): 1:58pm On Mar 18

More than half billion
CBN must hears this

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by MartinsD12(m): 2:01pm On Mar 18

Estello:
https://applesbite.com/businessman-raises-alarm-over-missing-n550m-fixed-deposit-at-first-bank/

That's why I don't trust Nigerian bank again

1 Like

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Nwaokunkpara: 2:05pm On Mar 18

EFCC no go see this case take useam shine

2 Likes

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by adamkkk: 2:14pm On Mar 18

Very depressing situation.... Nd our banking staff are terrible

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by MasterTeeUSA: 2:22pm On Mar 18

All these people with monies that is just gone in Bank...They must have plenty money. I check my Bank Balances everyday lol. There is no way it will be missing and it will take a while to notice it. Guess the bank used his money to meet the limit set by CBN on Capitalization lol...After the audit, he will get his money back grin

Estello:
https://applesbite.com/businessman-raises-alarm-over-missing-n550m-fixed-deposit-at-first-bank/

2 Likes 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Treasure17(m): 2:35pm On Mar 18

550 Million abi 50 million? I will make it my job to run than that bank. Are you kidding me

1 Like 1 Share

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by Gotocourt: 2:36pm On Mar 18

Na SANUSI LAMIDO fire those roque bank CEOs and many southerns are claiming victimization.

1 Like

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by WiseBizInvestor(f): 2:39pm On Mar 18

But ghataysuch a huge amount of Nigeria. Naira money that shouldn't disappear without a trace! 😳 huh

born2reign001:
Everything is just upside down in this country. Even money is no longer safe in the bank. Wahala!

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by johngwain: 2:40pm On Mar 18

It's an old news, , first Bank later settled the matter

4 Likes

Re: Businessman Raises Alarm Over Missing ₦550 Million Fixed Deposit At First Bank by ELKHALIFAISIS(m): 2:45pm On Mar 18

I keep telling them. The only only I will keep in my Nigeria account is the money I will be using to play bet

1 Like

1 2 Reply

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