Ex-Access Bank Head of Operations Arraigned Over Alleged $510,000 Customer Fund Diversion

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

The charges include forgery and criminal diversion, with one count accusing Nwaobi of inducing the bank to transfer the sum from Lantern Gate Nigeria Limited’s account on August 8, 2024, under the false pretense that the company had authorized the transaction. Another count alleges he forged an “Access Bank Domestic Fund Transfer Form” dated August 28, 2024, intending it to be treated as genuine to the bank’s detriment.

Nwaobi pleaded not guilty to all counts. His lawyer, F. C. Obinna, presented a bail application supported by an eight-paragraph affidavit. The EFCC, represented by ACE II Mainforce Adaka Ekwu, opposed the request, arguing that the strength of the evidence could lead the defendant to abscond.

The court granted bail of N250 million with three sureties, two of whom must provide evidence of land ownership in Enugu, while the third must show proof of tax payments over three years. Both the defendant and sureties are required to deposit passports with the court, and Nwaobi must also submit his international passport and National Identification Number until the case concludes.

The trial was adjourned to March 10–12, 2026, while Nwaobi was remanded at the Nigeria Correctional Service in Enugu. The case arose from a September 11, 2024 petition by Access Bank reporting unauthorized transfers of the $510,000 to six different accounts under Nwaobi’s authorization, without the customer’s approval.