Following a technical error that mistakenly credited the money to the fraud suspect's account, the Benin Zonal Directorate of the Economic and Financial Crimes Commission has given First Bank Nigeria Plc the N802,420,000 that was seized from the suspect.

The money was seized from Ojo Eghosa Kingsley, who reportedly unlawfully took possession of more than N1.3 billion that belonged to the bank, according to a statement released by the Commission on Tuesday via its official X account.

First Bank said that system errors caused the money to be mistakenly credited to Kingsley's account, according to the EFCC.

According to the statement, "the Commission's investigation revealed that the suspect, upon receiving the money, transferred a good portion of it to the bank accounts of his mother, Itohan Ojo, and his sister, Edith Okoro Osaretin, and committed part of the money to the completion of his building project and the funding of a new flamboyant lifestyle."

According to the EFCC, First Bank received the funds in the form of bank drafts after they were recovered from the designated accounts.

Sa'ad Hanafi Sa'ad, the EFCC's Deputy Commander and Acting Director of the Benin Zonal Directorate, stated that the Commission would carry out its statutory mandate while delivering the collected amount.

"We are able to track down and retrieve criminal proceeds and compensate victims because to the EFCC Establishment Act. First Bank was the victim in this instance, and we have done just that," Sa'ad stated.

He continued, "We will continue to carry out our duties to ensure that economic and financial crimes are nipped in the bud and that fraudsters do not benefit from fraud."

Olalere Sunday Ajayi, the business manager of First Bank in Benin, who accepted the bank drafts on the organization's behalf, praised the EFCC for its promptness and expertise in resolving the issue.

“We are grateful to the EFCC for handling this matter swiftly and professionally. The Commission is one of Nigeria’s most effective and reliable institutions,” Ajayi said.

The EFCC confirmed that Kingsley and other suspects linked to the case have been charged to court for stealing.