Businessman Alleges Ex-Banker Stole N175m From Him

A businessman, Dr Jude Ndudi, has testified before a Federal High Court in Lagos on how a former bank manager, Fidelis Egueke, allegedly stole N175 million from him and threatened to kill him and his sister.
Ndudi, who was giving evidence in the ongoing trial of Egueke, who last worked as the Asaba branch manager of Zenith Bank Plc, claimed that the defendant threatened him and his sister after he asked for the repayment of the money he allegedly stole from his company’s accounts.

The former banker is being tried by the Legal/Prosecution department of the Force Criminal Investigation Department (Force CID), Lagos, on a 16-count amended charge of conspiracy, fraud, unlawful conversion, obtaining money by false pretences, and unauthorised withdrawal.

At the resumed hearing, the witness, led by Prosecutor Morufu Animashaun, told the trial judge, Justice Alexander Owoeye, that the defendant had informed him that his relative, Great Ogboru, who was contesting the governorship of Delta State in 2019, had nominated him (Egueke) as his finance commissioner.

Ndudi also alleged that the defendant told him he needed him to donate money to Ogboru’s campaign to help secure his position as Commissioner of Finance.

The businessman further testified that he gave the defendant N20 million to support his goal of maintaining his position as Commissioner of Finance in Great Ogboru’s future administration, should he win the election.

He further explained to the court that the defendant fraudulently obtained an additional N100 million loan from him.

Ndudi stated, “Later in the year, he called me again, saying that Ogboru requested a N100 million loan. He assured me not to worry about repayment since he controls Ogboru’s N1.7 billion in Zenith Bank.

“He also claimed that Ogboru had a fully loaded fish ship in Port-Harcourt. When I asked why he couldn’t repay the N100 million from the N1.7 billion, he said he couldn’t touch the money until the fish was delivered.

Justice Owoeye had adjourned the matter to March 3, 2026, for continuation of the trial.