Man Arrested After First Bank Mistakenly Credits Him ₦1.5 Billion — Chooses Prison Over Refund 😭

A Nigerian man identified as Ojo Eghosa Kingsley has been arrested after First Bank of Nigeria mistakenly credited his account with a staggering ₦1.5 billion.

According to reports, the massive “error credit” occurred between June and November 2025. Rather than alerting the bank, Kingsley reportedly went ahead to spend a large portion of the money.

His actions later attracted the attention of the Economic and Financial Crimes Commission (EFCC), who arrested him in Benin City and arraigned him before the Edo State High Court.

On January 19, 2026, the charges were read in court, and Kingsley pleaded guilty immediately.

Court Judgment

The court gave him two options:

• One (1) year imprisonment, or
• ₦5 million fine

In addition, the court ordered him to refund the remaining ₦272,252,193.59 to First Bank.

EFCC Recovery Update

Before judgment, the EFCC disclosed that:

• ₦802,420,000 had already been recovered, including funds traced to his mother and sister.
• The bank also successfully reversed transfers worth over ₦300 million.

In a shocking twist, Kingsley reportedly told the court that he would rather spend one year in prison than refund the remaining ₦272 million.

Nigerians have since reacted massively to the story, with many describing it as “Nigeria being Nigeria.”

Source: Premium Times

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#mpnaija #FirstBank #EFCC #NigeriaNews #ErrorCredit #Trending #NaijaStories