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Home Metro

Man Chooses One-Year Jail Term Over Refunding ₦272m After ₦1.5bn Mistaken Bank Credit…

newsonspotadmin by newsonspotadmin
January 26, 2026
in Metro
Reading Time: 1 min read
0
Refunding

A Nigerian man, identified as Ogo Ehosa Kingsley, has sparked widespread debate online after reportedly choosing a prison sentence instead of refunding money mistakenly credited to his bank account.

Newsonspot reports that according to posts shared by @arhermadd on X, Kingsley was erroneously credited with ₦1.5 billion by First Bank and allegedly spent the funds between June and November 2025.

The Economic and Financial Crimes Commission (EFCC) arrested and prosecuted him on January 19, 2026, at the Edo State High Court, where he reportedly pleaded guilty to charges of theft and fraud.

Investigations revealed that the EFCC recovered:

₦802.42 million from Kingsley’s account and those of his mother and sister

Over ₦300 million through transfer reversals

This brought the total recovered sum close to ₦1.23 billion, leaving an outstanding balance of ₦272,252,193.59.

Instead of refunding the remaining amount, Kingsley allegedly told the court he would rather serve a one-year jail sentence.

The unusual decision has ignited intense conversations across social media, with Nigerians divided over whether the choice was strategic or foolish.

Many users continue to ask:

“Was it worth it?”

“One year for ₦272 million – smart move or senseless decision?”

As of now, the debate shows no signs of slowing down.

Tags: Economic and Financial Crimes CommissionEdo State High CourtEFCCFinancial CrimeFIRST BANKfraud casemistaken transferNewsonspotNigerian courtsprison sentencesocial media debate
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