Ex-banker Obinna Nwaobi arraigned by EFCC over alleged $510,000 diversion from customer account; pleads not guilty, remanded in custody.
ENUGU — A former banker, Obinna Nwaobi, has been arraigned by the Economic and Financial Crimes Commission (EFCC) over the alleged diversion of $510,000 from a customer’s account.
The EFCC told the Federal High Court, presided over by Justice C.O. Ajah, that Nwaobi faces a five-count charge including criminal diversion, fraudulent conversion, and abuse of office. “The suspect allegedly manipulated a customer’s domiciliary account and diverted $510,000 for personal use,” the Commission said.
Investigations began after the new-generation bank detected irregular transactions through its anti-fraud unit and reported the matter to the EFCC, leading to Nwaobi’s arrest.
The defendant pleaded not guilty to all charges. Justice Ajah ordered him remanded in EFCC custody pending bail application and adjourned the trial.
The bank emphasized its commitment to robust internal controls, stating it has invested in enhanced fraud-monitoring systems, continuous staff ethics training, and stronger compliance measures.
The EFCC vowed to continue collaborating with financial institutions to curb insider fraud.