EFCC arraigns ex-banker for diversion of $510,000
A former banker, Obinna Nwaobi, who used to serve as the Head of Operations at Access Bank Nigeria Plc, has been arraigned by the Economic and Financial Crimes Commission (EFCC) for allegedly diverting US$510,000 belonging to a customer.
The charges, filed in the Federal High Court in Enugu State, include forgery and criminal diversion of the funds. According to the EFCC, the amount was moved into six different accounts without the knowledge or permission of the customer, a company called Lantern Gate Nigeria Limited.
Under count seven of the charge, prosecutors allege that Nwaobi “induced Access Bank … to transfer … US$510,000 … under the false pretence that Lantern Gate Nigeria Limited gave consent … which pretext you knew to be false.” Count eight accuses him of forging a domestic fund transfer form dated 28 August 2024.
In court, Nwaobi pleaded not guilty to all nine counts brought against him. He applied for bail via an affidavit filed on 24 October 2025.
EFCC opposed his bail, warning that he might abscond given the strength of their evidence. Nevertheless, the court granted bail set at ₦250 million, with three sureties in the same amount. Two of the sureties must own landed property in Enugu State and provide proof, while the third must be a relative who has paid taxes for at least three years. Nwaobi also had to surrender his international passport and national ID number to the court.
