The EFCC has arraigned former Access Bank operations head Obinna Nwaobi over alleged 510,000-dollar fraud.
He is accused of authorizing and forging documents for unlawful transfers from a customer’s account.
The Enugu Zonal Directorate of the Economic and Financial Crimes Commission has arraigned a former Head of Operations at Access Bank Plc, Obinna Nwaobi, over allegations of forgery and the unlawful diversion of 510,000 dollars belonging to a customer.
He was brought before Justice F. O. Giwa Ogunbanjo of the Federal High Court in Enugu on Thursday, November 13, 2025, where he faced a nine count charge linked to the alleged fraudulent transfer.
One of the charges accused Nwaobi of inducing Access Bank to move 510,000 dollars from the account of Lantern Gate Nigeria Limited on August 8, 2024. The prosecution alleged that he falsely claimed the company had authorized the transfer, even though he knew no such approval existed. The charge stated that this act violated the Advance Fee Fraud and Other Fraud Related Offences Act.
Another charge alleged that he forged an Access Bank domestic transfer form dated August 28, 2024. The EFCC claimed he created the document with the intention for it to be accepted as genuine, an offence under the Miscellaneous Offences Act.
Nwaobi pleaded not guilty after the charges were read to him.
His lawyer, F. C. Obinna, urged the court to grant bail, noting that a formal application dated October 24, 2025 had already been filed. He adopted the supporting affidavit and requested favorable consideration.
However, the EFCC’s counsel, Mainforce Adaka Ekwu, strongly opposed the request. In an 11 paragraph counter affidavit, he argued that the strength of the evidence might prompt the defendant to flee if granted bail.
After hearing both sides, Justice Giwa Ogunbanjo granted bail in the sum of 250 million naira, with three sureties in the same amount. Two sureties must own landed properties in Enugu, with their documents submitted to the court. The third surety must be a relative of the defendant and present proof of tax payments for three years. The court also ordered the defendant and sureties to deposit two passport photographs each, while Nwaobi must surrender his international passport and National Identification Number pending the conclusion of the case.
The case was adjourned to March 10, 11 and 12, 2026 for trial. Nwaobi was remanded at the Enugu Correctional Centre.
The matter began in September 2024 when Access Bank reported suspicious transfers to the EFCC, alleging that 510,000 dollars from a customer’s account was moved to six different accounts on Nwaobi’s instruction without the customer’s approval.
