First Bank of Nigeria has strongly denied allegations of fraud made by Abia businessman Dr. Agbai Eke, dismissing the claims as “entirely unfounded and false.”
Dr. Eke recently filed a lawsuit in an Abia State High Court, alleging that over N550 million was fraudulently withdrawn from his fixed deposit account. His lawyer, Ebuka Nwaeze, stated that the deposit was made to support the bank’s Abiriba branch and contribute to community development, given Dr. Eke’s local leadership role.
The businessman claims he discovered the alleged fraud in December 2023 when he lost access to his account via the bank’s mobile app and could not reach the Business Development Manager. Upon visiting First Bank’s Gwarinpa branch in Abuja, he reportedly learned that N55 million had been withdrawn in six unauthorized transactions, even though he was in Umuahia at the time.