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Bank Manager Jailed For ₦66 Million Fraud



A former bank manager will be spending the next 11 months in jail after he was found guilty of fraud by a high court sitting in Awka, Anambra State.

Jonathan Nnamdi Udemadu, the former boss of Achina Microfinance Bank as prosecuted by the Enugu Zonal Office of the Economic and Financial Crimes Commission (EFCC).

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He was charged with nine-counts abuse of office, forgery, issuance of dud cheque, and fraudulent conversion of depositors fund to the tune of ₦66,633,000.

The bank had lodged a complaint with the EFCC, alleging that the defendant, granted huge sums of money to dubious companies without any collateral or the explicit consent of the board.

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The judge also ordered the convict to restitute the money in contention back to the bank or face forfeiture of his properties.