EFCC arraigns former Access bank operations head for alleged $510,000 fraud in Enugu

EFCC arraigns former Access bank operations head for alleged $510,000 fraud in Enugu

The Economic and Financial Crimes Commission (EFCC) on Thursday, November 13, 2025, arraigned Obinna Nwaobi, a former Head of Operations at Access Bank Plc, before Justice F. O. Giwa-Ogunbanjo of the Federal High Court, Enugu, over an alleged diversion of $510,000 belonging to a bank customer.

Nwaobi is facing a nine-count charge bordering on forgery, advance fee fraud, and criminal diversion of funds said to belong to Lantern Gate Nigeria Limited.

One of the charges alleges that the defendant induced Access Bank to transfer $510,000 from the customer’s account “under the false pretence” that the company authorised the transaction — an act contrary to Section 1(b) of the Advance Fee Fraud and Other Related Offences Act, 2006.

Another count accuses him of forging an Access Bank fund transfer form “with intent that it may be acted upon as genuine to the prejudice of the bank” — an offence under the Miscellaneous Offences Act, 2004.

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Nwaobi pleaded not guilty to all charges. His counsel, F. C. Obinna, urged the court to grant bail, citing a pending application supported by an eight-paragraph affidavit.

However, EFCC counsel, ACE II Mainforce Adaka Ekwu, opposed the request, arguing that the overwhelming evidence could push the defendant to flee.

“The quality of evidence we have might put fear in him and he might want to abscond,” Ekwu submitted.

After hearing arguments, the court granted bail in the sum of N250 million, with three sureties in like sum. Two must own landed property in Enugu State, while the third must be a relative who has paid tax for three years. Nwaobi must also submit his international passport, National Identification Number, and two passport photographs.

He was ordered to remain in Nigeria Correctional Service custody pending the fulfilment of bail conditions. The trial is scheduled for March 10, 11, and 12, 2026.

The case originated from a September 11, 2024 petition by Access Bank, alleging that Nwaobi authorised the illegal transfer of $510,000 from Lantern Gate Nigeria Limited’s account into six other accounts without approval.

“This breach, coupled with the customer’s representatives’ explicit statement of not issuing the instruction, raises serious concerns,” the petition stated.

EFCC arraigns former Access bank operations head for alleged $510,000 fraud in Enugu