EFCC arraigns ex-banker for alleged Criminal diversion of customer’s $510,000 

The Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC on Thursday, November 13, 2025 arraigned one Obinna Nwaobi, a former Head of Operations at Access Bank Nigeria Plc before Justice F. O. Giwa-Ogunbanjo of the Federal High Court sitting in Independence Layout, Enugu State.

He was arraigned on a nine-count charge bordering on forgery and criminal division of 510, 000. 00 USD (Five Hundred and Ten Thousand United States Dollars), belonging to a customer of the bank.

Count seven of the charge reads: “That you, Obinna Nwaobi while being (Head of Operations) of Access Bank Nigeria Plc, Enugu branch on or about the 8th day of August, 2024 in Enugu State, within the jurisdiction of the Federal High Court of Nigeria, induced Access Bank Nigeria Plc to transfer a total sum of Five Hundred and Ten Thousand United States Dollars ($510, 000. 00) from LANTERN GATE NIGERIA LIMITED Access Bank Account number 0761770127 under the false pretence that Lantern Gate Nigeria Limited gave her consent and mandate for the said transfer which petence you knew to be false and you thereby committed an offence contrary to Section 1 (b) of the Advance Fee Fraud and Other fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act”.

Count eight of the charge reads: “That you, Obinna Nwaobi while being (Head of Operations) of Access Bank Plc, Enugu branch on or about the eight day of August, 2024 in Enugu State, within the jurisdiction of the Federal High Court of Nigeria, knowingly forged a document to Wit: “Access Bank Domestic Fund Transfer Form “D”, dated 28th August 2024, knowing same to be false and with intent that it may be acted upon as genuine to the prejudice of Access Bank Plc and you thereby committed an offence contrary to Section 1 (2) (a) of the Miscellaneous Offences Act 2004 and punishable under Section 1 (2) of the same Act”.

The defendant pleaded “not guilty” to all the charges when they were read to him.

However, defence counsel, F. C. Obinna informed the court about a bail application before it, dated October 24, 2025 and supported by 8-paragraph affidavit. He adopted same and prayed the court to admit his client to bail.

Reacting to the said application, counsel to the EFCC, Assistant Commander of the EFCC, ACE II Mainforce Adaka Ekwu, vehemently opposed the application via an 11-paragraph counter affidavit filed on November 12, 2025. While relying on the said counter affidavit, the prosecution urged the court to refuse the said application because, “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) and three sureties in like sum. Two of the sureties shall have landed properties in Enugu State and the papers of the said properties must be submitted to the court.

“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 deposit two passports each to the court and the defendant shall deposit his international passport and National Identification Number to the court until the determination of this case”

The matter was adjourned to March 10, 11 and 12, 2026 for trial while the defendant was remanded at the facility of the Nigeria Correctional Service in Enugu.

The defendant’s case started on September 11, 2024 when the Commission received a petition from Access Bank Plc, alerting the EFCC of unauthorized transfers from its customer’s account.

According to the petitioner, the sum of $510, 000. 00 belonging to its customer, Lantern Gate Nigeria Limited was moved to six different accounts on the authorization of Obinna Nwaobi, its Head of Operation as at that time, without the approval of the customer.

“This breach, coupled with the customer’s representatives’ explicit statement of not issuing the instruction for the transfer of the specified amounts, raises concerns and underscores the need for further investigation”, the petitioner said.