A Nigerian businessman, Dr. Jude Ndudi, has narrated before a Federal High Court in Lagos how a former bank manager, Fidelis Egueke, allegedly threatened him and his sister for demanding the repayment of over N480 million he allegedly stole from his company’s accounts.
Egueke, who last worked as the Asaba branch manager of Zenith Bank Plc, is being prosecuted by the Legal/Prosecution Department of the Force Criminal Investigation Department (Force CID) Annex, Alagbon-Ikoyi, Lagos, on a 16-count amended charge of conspiracy, fraud, unlawful conversion, obtaining money by false pretence, and unauthorized withdrawal.
Justice Owoeye is the fourth judge to preside over the charge marked FHC/L/298c/2020.
At the resumed hearing of the matter last Tuesday, the businessman, while being led in evidence by the prosecutor, Barrister Morufu Ajani Animashaun, told the court how Egueke said that his relative, Great Ogboru, who was running for the governorship of Delta State, had made him his finance commissioner and needed him to donate money to his campaign to cement his position as Commissioner of Finance.
Dr. Ndudi told the court that he gave Egueke the sum of N20 million to help him maintain his position as Commissioner of Finance in Ogboru’s future administration if he won the election.
The businessman further said: “When I told him that I would be coming to Port Harcourt to file a petition against him, he told me that my sister and I should dress in bulletproof vests and come in a bulletproof vehicle. I was shocked and reminded him that I had gifted his wife a brand-new Mercedes-Benz, obtained United States visas for him, his wife, and children, and paid for a Caribbean cruise. Even the suit he was wearing the day he threatened me, I had bought for him.
“I told him that I would not be bullied and that we would meet in Port Harcourt. I informed my wife, who was surprised that the defendant had reneged on his agreement to repay the money. She advised me to file a petition and secure the services of a lawyer, who filed the petition with the AIG, Alagbon-Ikoyi, Lagos.”
On the petition at Alagbon, Dr. Ndudi said: “Around October 10 and 15, 2020, I was invited to Alagbon for my statement. On my arrival, I met the defendant, who had already given his statement.
“When we both finished our statements, the defendant and his lawyers approached me and pleaded for settlement. They promised that once the defendant met the bail conditions, he would proceed with settlement and pay me my money. The defendant then asked how much money he stole, and I told him N480 million was missing from the company’s account, N180 million was unaccounted for at his Zenith Bank branch that I opened for my sister, Blessing Ndudi, and more than N150 million for merchandise, which he collected but never deposited.
“The defendant pleaded for the original agreement we made at the initial discovery of the alleged fraud, in which he agreed to pay N15 million and the remainder monthly until fully repaid. I agreed, and at that point, the IPO took us to the Deputy Commissioner, who advised that since the matter was already before the police, the agreement would now be between the defendant and the police.
“The defendant stated that he did not want any written agreements because it would jeopardize his job at Zenith Bank. After we failed to reach an agreement, he requested his statement that he had submitted to the police and chewed it.”
On the ex-banker’s alleged fraudulent acts at Zenith Bank, the businessman said: “After marrying my sister, Blessing Ndudi, the defendant said he was tired of working at Zenith Bank and pleaded to work for my company. My wife refused, saying it was better for him to continue at Zenith Bank while his wife worked with us. But the defendant kept pressing, begging, and bombarding me with calls for months.
“In November 2009, I received a call from his wife, stating she wanted a divorce because the defendant’s pressure to work for my company was overwhelming.
“After marrying my sister, I told her I would open a joint account with her at First Bank, but the defendant immediately objected, insisting we open an account at Zenith Bank to secure bonuses and promotions. On March 23, 2009, an account was opened, and I transferred N15 million from my personal account. On the same day, the defendant withdrew N7 million and then the remaining N8 million within two weeks, resulting in a loss of about N180 million.”
“All these were discovered when we engaged a forensic auditor, Chief Ori, who found that over N179 million was diverted directly by the defendant from the company account alone.
“In January 2012, a company doing business with us, SUBEB Asaba, paid N7,981,083.51 into our account. The same month, the defendant withdrew all the money, leaving only N1,000, and deposited it into his personal GTB account in three tranches.”
The businessman also recounted how he gave the defendant a N20 million donation for Ogboru’s campaign and later approved a N100 million loan under certain conditions, which Egueke allegedly manipulated.
Dr. Ndudi further said: “By 2020, I discovered hundreds of millions of Naira allegedly stolen from my account, with Egueke’s name appearing in bank statements. He promised to repay but refused a written agreement, insisting on oral arrangements. I informed him that this was a criminal case, not civil, and that in America he would face charges of theft, embezzlement, breach of trust, racketeering, and tax evasion. He replied that nothing would happen in Nigeria, claiming he could hire SANs to influence judges.”
NAIJAONPOINT added that the defendant claimed no police in Asaba would prosecute him due to his long tenure as a bank manager.
The former bank manager reportedly resigned after being queried on the alleged fraud and demarketing of the bank.