Ojo Eghosa Kingsley, a Nigerian man, has sparked widespread debate on social media after choosing to serve a one-year prison sentence rather than refund hundreds of millions of naira mistakenly credited to his bank account.
In 2025, First Bank of Nigeria mistakenly credited Kingsley’s account with a total of about ₦1.5 billion due to what the bank later described as a technical or system error. The funds were credited in multiple transactions between June and November 2025.
Instead of reporting the situation, Kingsley allegedly embarked on what investigators described as a rapid spending spree, transferring large sums of the money to accounts belonging to his mother and sister, using part of it to complete a personal building project, and funding a flamboyant lifestyle.
Following a complaint from the bank, the Economic and Financial Crimes Commission (EFCC) launched an investigation, leading to Kingsley’s arrest.
He was arraigned on January 19, 2026, before Justice W. I. Aziegbemhin at the Edo State High Court in Benin City, where he pleaded guilty to the charges and was sentenced the same day.
Before the court’s judgment, authorities had recovered more than ₦802 million, while the bank reversed an additional ₦300 million from previous transactions. This left an outstanding balance of approximately ₦272.25 million.
The court found Kingsley guilty and gave him two options:
(1) Pay a ₦5 million fine and refund the remaining ₦272,252,193.59, or
(2) Serve a one-year prison sentence.
In a decision that shocked many, Kingsley opted for the one-year jail term, instead of settling the fine and returning the remaining money.
His choice has since ignited intense debate online, with some social media users describing the sentence as a “good deal” or a “wise decision,” while others criticised the outcome as a troubling signal about punishment for financial crimes.
