Following a viral report, the management of First Bank Plc has admitted the culpability of one of its ex-employees in the missing N550m fixed deposit fund belonging to Abia Businessman, Dr Agbai Eke.

The bank admitted the wrongdoing in a statement issued on Friday and signed by the management..

In the statement, First Bank claimed that based on its findings, the ex-employee facilitated unauthorised transactions outside the bank’s knowledge or involvement.

The statement reads in part, “We have been made aware of a recent publication by Thisday Newspaper, Arise Television and a circulating video regarding a court case filed by a customer, Dr. Agbai Eke, against FirstBank.

“Our findings on the matter indicate unprofessional and unethical dealings and a former FirstBank employee, using a personal relationship to facilitate unauthorised transactions outside the bank’s knowledge or involvement.

“As the matter is currently before the Court, we will refrain from further comments to allow the Court to dispassionately determine the issues before it.

“The bank has equally filed a report with law enforcement for further proper investigations and the suspects have made useful statements while the investigations are ongoing.

“We assure our stakeholders that we operate with the highest standards of integrity and professionalism.

The Abia State High Court sitting in Umuahia had on Tuesday adjourned the case between Dr Eke Agbai and First Bank of Nigeria Ltd. to March 26 and April 2 for the commencement of the hearing.

The case, marked HU/233/2024, centres on Dr Agbai’s claim that First Bank refused to release his fixed deposit of N550m, which he had lodged with the bank’s Abiriba branch to support its continued presence in the community.

During Tuesday’s proceedings, both parties were present in court The presiding judge, Justice U.D. Enwereji, subsequently adjourned the case to allow for a proper hearing and presentation of evidence.

She also directed that a formal subpoena be issued to key witnesses, including the former Group Managing Director of First Bank, Elder U.K. Eke, the current Managing Director, Olusegun Alebiosu, and the current manager of the bank’s Uzuakoli branch, among others, before its proper hearing on the 26th.