First Bank Under Fire: Businessman Claims ₦550M Fixed Deposit Has Disappeared

A Nigerian businessman, Agbai Eke Agbai, says he lodged ₦550 million in a fixed deposit at First Bank’s Abiriba branch. He received a certificate confirming the transaction. When he later visited Abuja to withdraw the funds, officials told him ₦55 million had already been taken without his consent. The bank later refunded that amount after an internal review. Agbai’s alarm grew when he asked to close the account and learned the ₦550 million principal could not be traced. The incident has sparked calls for a thorough investigation into First Bank’s controls and accountability.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.