Abia businessman Eke Agbai Eke has taken legal action against First Bank over an alleged fraudulent withdrawal of N55 million from his fixed deposit

[dropcap]A[/dropcap]n Abia businessman, Eke Agbai Eke, has filed a lawsuit against First Bank of Nigeria, alleging that N55 million was fraudulently withdrawn from his fixed deposit account without his authorization.

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The disputed transaction occurred at the bank’s former Abiriba branch, now relocated to Uzuakoli.

According to Eke’s lawyer, Ebuka Nwaeze, the businessman originally deposited the funds to support First Bank’s presence in his community.

However, in December 2023, he realized he could no longer access his account via the bank’s mobile app and was unable to reach the Business Development Manager for assistance.

Upon visiting First Bank’s Gwarinpa branch in Abuja, he was informed that N55 million had been withdrawn in six consecutive transactions, despite him being in Umuahia at the time.

Following months of unaddressed complaints, First Bank launched an internal investigation, which reportedly led to the dismissal of nearly nine senior officials allegedly linked to the fraudulent transactions.

Despite this, the bank has yet to return Eke’s funds.

With no resolution from First Bank, Eke has taken the matter to court, demanding the return of his funds and accountability for the bank’s failure to protect customer deposits.

While First Bank’s legal team has declined to comment, Eke’s lawyers have publicly stated their commitment to seeking justice.

As the legal proceedings unfold, stakeholders and customers alike are closely watching to see whether First Bank will be held accountable for the alleged breach of trust.