Obinna Nwaobi, a former Head of Operations at Access Bank Plc, has been arraigned before the Federal High Court in Enugu State on a nine-count charge that includes forgery and criminal diversion of $510,000 belonging to a bank customer.
The arraignment, conducted by the Economic and Financial Crimes Commission (EFCC) on Thursday, saw the defendant plead not guilty to all charges. The court subsequently granted the defendant bail under conditions set at ₦250 million
The EFCC investigation originated from a petition filed by the Access Bank on September 11, 2024, concerning unauthorized transfers from a corporate account belonging to Lantern Gate Nigeria Limited.
The prosecution alleges that Nwaobi, while Head of Operations, authorized the movement of the $510,000 into six different accounts without the customer’s approval.
The nine-count charge, heard by Justice F. O. Giwa-Ogunbanjo, alleges that Nwaobi’s actions contravene Section 1(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and included the forgery of a domestic funds transfer form.
While the defense counsel sought bail on liberal terms, the EFCC counsel, Assistant Commander Mainforce Adaka Ekwu, vehemently opposed the application. The prosecution argued that the quality of evidence we have in our proof of evidence might put fear in him, and he might want to abscond.
By pleading not guilty, the defendant formally denies the allegations of forgery and criminal diversion.
The defendant was remanded at the Nigeria Correctional Service facility in Enugu pending the fulfillment of the bail conditions. The trial proper has been adjourned, and is scheduled to commence on March 10, 11, and 12, 2026.
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