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 dollars belonging to a customer.
Nwaobi was arraigned before Justice Folashade Giwa-Ogunbanjo of the 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 states that Nwaobi, on or about August 8, 2024, induced Access Bank to transfer 510,000 dollars from Lantern Gate Nigeria Limited’s account under the false pretence that the company gave its approval. The offence 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 be acted upon as genuine to the prejudice of Access Bank Plc, contrary to Section 1(2)(a) of the Miscellaneous Offences Act, 2004.
Nwaobi pleaded not guilty to all the charges.
F. C. Obinna, counsel to the defendant, urged the court to grant bail, relying on an application dated October 24 and supported by an eight-paragraph affidavit.
However, Mainforce Adaka Ekwu, counsel to the EFCC, opposed the application through an 11-paragraph counter affidavit filed on November 12, arguing that the strength of the prosecution’s evidence might prompt the defendant to abscond if granted bail.
After hearing both sides, Justice Giwa-Ogunbanjo granted bail in the sum of N250 million with three sureties in like sum. Two sureties must own landed property in Enugu and submit the title documents to the court.
The third surety must be a relative of the defendant and present evidence of three years of tax payment. The court also ordered Nwaobi and his sureties to deposit two passport photographs each. The defendant must also surrender his international passport and national identification number pending the determination of the case.
He was remanded at the Enugu Custodial Centre pending the fulfilment of the bail conditions. The case was adjourned to March 10, 11 and 12, 2026, for trial.
The case originated from a petition submitted by 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 dollars was moved without the customer’s approval, prompting the bank to seek the commission’s intervention.
The post “Moved $510,000 Into Six Different Accounts Without Company’s Consent” — EFCC Arraigns Fmr Access Bank Operations Head In Enugu Court appeared first on TheNigeriaLawyer.
