EFCC arraigns former banker for ‘forging document, diverting customer’s $510,000′

The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned Obinna Nwaobi, a former head of operations at Access Bank Plc, over the alleged diversion of $510,000 belonging to a customer.

Nwaobi was arraigned before Folashade Giwa-Ogunbanjo, judge of a federal high court in Enugu, on a nine-count charge bordering on forgery and criminal diversion.

According to the EFCC, Nwaobi allegedly moved the funds owned by Lantern Gate Nigeria Limited into six different accounts without the company’s consent.

One of the counts reads that Nwaobi, “on or about August 8, 2024, induced Access Bank to transfer $510,000 from Lantern Gate Nigeria Limited’s account under the false pretence that the company gave its approval,” an offence that contravenes section 1(b) of the Advance Fee Fraud Act, 2006.

Another count alleges that he forged an Access Bank domestic funds transfer form “with intent that it may be acted upon as genuine to the prejudice of Access Bank Plc,” contrary to section 1(2)(a) of the Miscellaneous Offences Act, 2004.

However, Nwaobi pleaded not guilty to all the charges.

F.C. Obinna, counsel to the defendant, prayed the court to grant his client bail, relying on an application dated October 24 and supported by an eight-paragraph affidavit.

But Mainforce Adaka Ekwu, counsel to the EFCC, opposed the application through an 11-paragraph counter-affidavit filed on November 12.

The prosecution argued that the strength of its evidence might prompt the defendant to flee if granted bail.

After hearing both sides, Giwa-Ogunbanjo granted bail in the sum of N250 million with three sureties in like sum. Two of the sureties must own landed property in Enugu, with title documents submitted to the court.

The third surety must be a relative of the defendant and present evidence of three years’ tax payment. The court also ordered Nwaobi and his sureties to deposit two passport photographs each, while the defendant must surrender his international passport and national identification number (NIN) pending the determination of the case.

He was remanded at the Enugu custodial centre pending fulfilment of the bail conditions, while the case was adjourned to March 10, 11 and 12, 2026, for trial.

The case originated from a petition submitted by the Access Bank to the EFCC on September 11, 2024, alleging unauthorised transfers from Lantern Gate Nigeria Limited’s account.

According to the petition, the $510,000 was moved “without the customer’s approval,” prompting the bank to seek the commission’s intervention.