Ex–Access Bank Operations Head Arraigned for Allegedly Diverting $510,000 in Forged Document Scheme — EFCC

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The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned Obinna Nwaobi, a former Head of Operations at Access Bank, over allegations of forgery, criminal breach of trust, and diversion of $510,000 belonging to a bank customer.

Nwaobi was brought before a Lagos Federal High Court on multiple counts bordering on falsifying financial documents and unlawfully transferring the funds to accounts linked to him.According to EFCC prosecutors, the former bank official allegedly forged authorization documents and manipulated internal banking systems to facilitate the illegal withdrawals.

The anti-graft agency told the court that the suspect used his privileged position to access restricted customer information, create fraudulent transaction approvals, and divert the funds without the knowledge or consent of the account owner.

Nwaobi pleaded not guilty to all charges.

Following the arraignment, the EFCC requested that the defendant be remanded in custody pending trial, citing concerns over flight risk and interference with witnesses. The defence team, however, filed for bail, insisting the allegations were “misrepresented” and that the defendant was prepared to face trial.

The presiding judge adjourned the matter to a later date for ruling on the bail application and commencement of full trial.

The case adds to the rising number of financial-sector fraud investigations involving bank insiders—an issue the EFCC says remains a critical threat to customer funds and banking integrity in Nigeria.