A former Head of Operations at Access Bank, Obinna Nwaobi, has been arraigned before the Federal High Court in Enugu State for allegedly diverting a customer’s $510,000 and forging a document.
This was disclosed in a statement posted by the Economic and Financial Crimes Commission (EFCC) on Friday.
The Enugu Zonal Directorate of the EFCC, on Thursday, arraigned Nwaobi before Justice F. O. Giwa-Ogunbanjo, where he pleaded not guilty to the allegations.
According to the EFCC, the case began on September 11, 2024, when the Commission received a petition from Access Bank Plc alerting the agency to unauthorized transfers from a customer’s account.
“According to the petitioner, the sum of $510,000 belonging to its customer, Lantern Gate Nigeria Limited, was moved into six different accounts on the authorization of Obinna Nwaobi, its Head of Operations at that time, without the approval of the customer,” the EFCC statement partly reads.
The bank stated that the alleged breach—coupled with the customer’s representatives explicitly denying issuing any instruction for the transfer—raised concerns and prompted further investigation.
The defendant was subsequently arraigned on a nine-count charge bordering on forgery and criminal diversion of $510,000 belonging to the bank’s customer, Lantern Gate Nigeria Limited.
The Commission contended that the action contravened Section 1(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
At the resumed proceedings, the defendant pleaded “not guilty” to all the charges, paving the way for trial.
However, defence counsel, F. C. Obinna, drew the court’s attention to a bail application dated October 24, 2025. He adopted the application and urged the court to grant bail on liberal terms.
But counsel to the EFCC, Assistant Commander of the EFCC Adaka Ekwu, opposed the application through an 11-paragraph counter-affidavit filed on November 12, 2025.
He urged the court to reject the application, stressing that “the quality of evidence we have in our proof of evidence might put fear in him, and he might want to abscond.”
After listening to both parties, the court granted the defendant bail in the sum of N250 million (Two Hundred and Fifty Million Naira) with three sureties in like sum, according to the EFCC.
“The third surety shall be a relative of the defendant, who shall deposit evidence of tax payment for three years. The defendant and the sureties shall each deposit two passport photographs, while the defendant shall deposit his international passport and National Identification Number with the court until the determination of this case,” the judge was quoted as saying.