Economic and Financial Crimes Commission (EFCC) on Thursday arraigned Obinna Nwaobi, a former Head of Operations at Access Bank Nigeria Plc, before Justice F. O. Giwa-Ogunbanjo of the Federal High Court, Enugu, on charges bordering on forgery and criminal diversion of funds.
Nwaobi was docked on a nine-count charge involving the alleged fraudulent transfer of $510,000 (Five Hundred and Ten Thousand United States Dollars) from a customer’s account without authorization.
According to the EFCC, the accused induced Access Bank to transfer the funds from the account of Lantern Gate Nigeria Limited under false pretence, and forged a domestic fund transfer form to facilitate the transaction.
The defendant pleaded not guilty to all charges.
Following the plea, defence counsel, Mr. F. C. Obinna, moved a bail application dated Oct. 24, supported by an eight-paragraph affidavit. The prosecution, represented by ACE II Mainforce Adaka Ekwu, opposed the application, citing risk of flight due to the strength of the evidence.
Justice Giwa-Ogunbanjo granted bail in the sum of ₦250 million with three sureties in like sum. Two sureties must own landed property in Enugu State, while the third must be a relative of the defendant with proof of tax payment for three years.
The defendant and sureties are to submit two passport photographs each, along with the defendant’s international passport and National Identification Number.
The case was adjourned to March 10, 11, and 12, 2026 for trial. Nwaobi was remanded at the Nigeria Correctional Service facility in Enugu pending fulfilment of bail conditions.
The EFCC said the matter originated from a petition received from Access Bank on Sept. 11, 2024, alleging unauthorized transfers from a customer’s account.
