The Economic and Financial Crimes Commission (EFCC) has returned N802.42 million to First Bank Nigeria Plc, recovered from N1.3 billion wrongly credited to a customer due to bank system glitches.

The recovered funds were traced to Ojo Eghosa Kingsley, who, upon receiving the money, transferred portions to the accounts of his mother, Itohan Ojo, and sister, Edith Okoro Osaretin, while also using some for a personal building project and lifestyle expenses.

The Benin Zonal Directorate of the EFCC conducted the investigation after First Bank reported the erroneous credit. Acting Director of the zone, DCE Sa’ad Hanafi Sa’ad, handed over the recovered funds in drafts to the bank, emphasizing that the EFCC is empowered to trace and return proceeds of crime and prevent fraudsters from benefiting illegally.

Olalere Sunday Ajayi, Business Manager of First Bank, Benin, commended the EFCC for its professionalism and swift action, describing the commission as one of Nigeria’s most effective institutions.

Kingsley and the other suspects involved have been charged to court for theft by the EFCC.