Nigeria, Jan. 14 -- The Economic and Financial Crimes Commission (EFCC) says it has handed over N802.42 million recovered from a fraud suspect to First Bank Nigeria Plc, following an investigation into the unlawful diversion of the bank's funds.

The funds were handed over by the EFCC's Benin Zonal Directorate on Monday, in bank drafts, according to a statement sent to PREMIUM TIMES on Tuesday by the commission's spokesperson, Dele Oyewale

First Bank had petitioned the EFCC, alleging that a system glitch led to the erroneous crediting of over N1.3 billion into the account of one of its customers, Ojo Kingsley.

Investigations by the commission showed that upon receiving the funds, Mr Kingsley transferred substantial amounts into the bank...