A system glitch at First Bank reportedly led to the accidental transfer of N1.3 billion into the account of Ojo Eghosa Kingsley, triggering what investigators describe as a rapid spending spree before authorities intervened.
According to the Economic and Financial Crimes Commission (EFCC), the suspect allegedly diverted large portions of the funds to the bank accounts of his mother, Itohan Ojo, and his sister, Edith Okoro Osaretin, while committing part of the money to the completion of a building project and the funding of a suddenly flamboyant lifestyle.
Following a report by the bank, the EFCC launched an investigation and has since recovered and returned N802 million to First Bank.
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