EFCC Arraigns Former Access Bank Staff in Court for Diverting Customer’s $510,000

A former Head of Operations at Access Bank Plc, Obinna Nwaobi, has been arraigned before the Federal High Court in Enugu over allegations of diverting $510,000 belonging to a customer and forging official documents.

The Economic and Financial Crimes Commission (EFCC) disclosed the development in a statement on Friday, noting that its Enugu Zonal Directorate brought Nwaobi before Justice F. O. Giwa-Ogunbanjo on Thursday. He pleaded not guilty to all charges.

According to the EFCC, the matter originated from a petition submitted by Access Bank on September 11, 2024, reporting unauthorized transfers from the account of Lantern Gate Nigeria Limited.

“The sum of $510,000 was moved into six different accounts on the authorization of Obinna Nwaobi, then Head of Operations, without the customer’s approval,” the petition stated, prompting the Commission to commence investigations after the customer denied issuing any transfer instructions.

Nwaobi was subsequently charged with nine counts bordering on forgery and criminal diversion, offences said to contravene Section 1(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

During proceedings, defence counsel F. C. Obinna urged the court to grant bail based on an application dated October 24, 2025. However, EFCC counsel, Assistant Commander Adaka Ekwu, opposed the request, arguing through an 11-paragraph counter-affidavit that the weight of evidence could motivate the defendant to abscond.

After considering both submissions, Justice Giwa-Ogunbanjo granted Nwaobi bail in the sum of N250 million with three sureties in like sum. Two of the sureties must possess landed property in Enugu State, with original documents deposited in court, while the third must be a relative who can provide evidence of three years’ tax payments.

The defendant and sureties are also required to submit two passport photographs each, while Nwaobi must deposit his international passport and National Identification Number pending the conclusion of the trial.

The case was adjourned to March 10, 11, and 12, 2026 for trial. The defendant was remanded at the Enugu Custodial Centre until he meets his bail conditions.