First Bank customer mistakenly credited 1.5billion
A First Bank customer, Ojo Eghosa Kingsley, was mistakenly credited with approximately ₦1.5 billion by the bank due to an error that occurred between June and November 2025. Rather than report the mistake or return the funds, he allegedly used a substantial portion of the money for personal purposes. 
When the Economic and Financial Crimes Commission (EFCC) arrested him and charged him with theft and fraud under the Edo State Criminal Law (2022), Kingsley pleaded guilty when the charges were read in court on January 19, 2026. 
Court Ruling and Surprising Choice
Justice W. I. Aziegbemhin of the Edo State High Court sentenced Kingsley to:
1 year imprisonment, or A ₦5 million fine, and
An order to refund the remaining balance of ₦272,252,193.59 to First Bank. 
Before judgment, EFCC had already recovered about ₦802.42 million from accounts linked to him, his mother and his sister, and First Bank reversed over ₦300 million worth of transactions. 
In a dramatic twist, Kingsley told the court he preferred serving the one‑year jail term rather than refunding the remaining ₦272 million, effectively choosing prison over financial restitution.
