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Fraud

Apr 19, 2026

FRN vs Ekpe Sunday (Staff of Ecobank Plc.) & 2 others

Ekpe Sunday
& 2 others

N12,872,967.29
Amount allegedly defrauded

Case Summary
The Defendants were alleged to have failed to exercise due diligence in opening a spurious account for a fraudster, in the name of a pensioner, Chief Ukim Okon Edem. As a result of their negligence, the fraudster used the account to convert and steal the said sum being proceeds from the sale of the shares of the pensioner.

1,661
Day(s) case tried in court

Case Update
Delivering the judgement the trial judge discharged and acquitted the 2nd Defendant, Dennis Joseph James, but convicted the 1st Defendant, Ekpe Sunday and sentenced him to two (2) years in prison, with an option of N1million fine. He was also ordered to pay the victim the sum of N2million as restitution. The trial judge also found the 3rd Defendant (Ecobank), guilty and ordered the bank to refund to the PW1 the sum of N12,872,967.29 forthwith, being the sum of money involved in the fraudulent financial transaction.

Hon. Justice I. L. Ojukwu
Federal High Court, Uyo, Akwa-Ibom

ACJA/ACJL Compliance - violated

Case Information

Ekpe Sunday & 2 others

Presiding Judge & Designated Court

Hon. Justice I. L. Ojukwu, Federal High Court, Uyo, Akwa-Ibom

Nature and Number of Charges

2-count charge bordering on conspiracy, fraudulent diversion of funds, forgery and impersonation.

Date of 1st Arraignment

May 21, 2014

Summary of Case

The Defendants were alleged to have failed to exercise due diligence in opening a spurious account for a fraudster, in the name of a pensioner, Chief Ukim Okon Edem. As a result of their negligence, the fraudster used the account to convert and steal the said sum being proceeds from the sale of the shares of the pensioner.

Defendant(s) and Plea entered on Arraignment

1. Ekpe Sunday (Staff of Ecobank Plc) – Not Guilty

2. Denis Joseph James (Staff of Ecobank Plc) – Not Guilty

3. Ecobank PLC (Bank) – Not Guilty

Defence Counsel(s)

1. Edet Ekanem (Lawyer)

2. C.O. Ezedi (Lawyer)

3. Ukem Frank (Lawyer)

Prosecuting Agency

Economic and Financial Crimes Commission

Prosecutor(s)

1. Dr. Ben Ubi (Lawyer)

Status of Case

Decided

Decision

Convicted

Length of Trial

1,661 day(s)

ACJA/ACJL Compliance

Violated

Court Decision

Delivering the judgement the trial judge discharged and acquitted the 2nd Defendant, Dennis Joseph James, but convicted the 1st Defendant, Ekpe Sunday and sentenced him to two (2) years in prison, with an option of N1million fine. He was also ordered to pay the victim the sum of N2million as restitution. The trial judge also found the 3rd Defendant (Ecobank), guilty and ordered the bank to refund to the PW1 the sum of N12,872,967.29 forthwith, being the sum of money involved in the fraudulent financial transaction.