Access Bank Manager Reined In For ‘Diversion Of Customers $510,000 000’
By Our Correspondent
A former Head of Operations at Access Bank Nigeria Plc, Obinna Nwaobi, was brought before Justice F. O. Giwa-Ogunbanjo of the Federal High Court in Enugu on Thursday, November 13, 2025, by the Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) for allegedly forging and diverting $ 510, 510,000 belonging to a bank customer. Nwaobi was charged with nine counts.
One of the charges (Count Seven) alleged that, on August 8, 2024, Nwaobi persuaded Access Bank to transfer $ 510,510,000 from the account of Lantern Gate Nigeria Limited, claiming the customer had authorized the transaction. This act violates Section 1(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Another charge (Count Eight) accused him of knowingly forging an Access Bank Domestic Fund Transfer Form “D”, dated August 28, 2024, with the intent to deceive—an offence under the Miscellaneous Offences Act, 2004. Nwaobi pleaded not guilty to all charges.
His defense lawyer, F.C. Obinna, told the court about a pending bail application supported by an eight-paragraph affidavit. The EFCC lawyer, Ace II Mainforce Adaka Ekwu, opposed the bail request, arguing that the substantial evidence might lead the defendant to flee.
After considering the arguments, the court approved Nwaobi’s bail, set at ₦250 million, with three sureties of equal amount. Two sureties must own land in Enugu State, and the third must be a relative who can show proof of three years of tax payments.
The defendant is also required to provide his international passport, National Identification Number, and two passport-sized photos to the court.
The case was scheduled for trial on March 10, 11, and 12, 2026, while Nwaobi was remanded at the Enugu Custodial Centre until the bail conditions are met.
The case started after Access Bank filed a petition on September 11, 2024, reporting unauthorized transfers from a customer’s account. The bank stated that the funds were transferred to six different accounts without the approval of Lantern Gate Nigeria Limited, prompting the EFCC to investigate.
