EFCC arraigns ex-banker for diverting customer’s $510,000

The Economic and Financial Crimes Commission (EFCC) has arraigned a former Head of Operations at Access Bank Plc, Obinna Nwaobi, before the Federal High Court sitting in Independence Layout, Enugu State.

The former banker was arraigned on a nine-count charge bordering on forgery and criminal division of $510,000 belonging to a customer of Access Bank on Thursday, November 13, 2025.

The EFCC disclosed that the defendant’s case started on September 11, 2024, when the commission received a petition from Access Bank over unauthorised transfers from its customer’s account.

The bank said the sum of $510,000 belonging to its customer, Lantern Gate Nigeria Limited, was moved to six different accounts on the authorisation of Nwaobi, the Head of Operations as at that time, without the customer’s approval.

One of the charges read: “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 $510,000 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.”

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

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The 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, the EFCC counsel, Mainforce Adaka Ekwu, vehemently opposed the application via an 11-paragraph counter affidavit filed on Wednesday, November 12.

While relying on the said counter affidavit, the prosecution urged the court to refuse the 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, Justice F. O. Giwa-Ogunbanjo granted the former banker bail in the sum of N250 million and three sureties in like sum.

The judge ordered that two of the sureties must have landed properties in Enugu State and the papers of the properties must be submitted to the court.

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“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,” Justice Giwa-Ogunbanjo added.

Justice Giwa-Ogunbanjo adjourned the matter to March 10, 11, and 12, 2026, for trial.

The Star