EFCC Grills Ex-Banker Over Alleged Diversion Of Customer’s N515m

The Economic and Financial Crimes Commission (EFCC) has begun investigating a former bank operations manager, Obinna Nwaobi, over the alleged unauthorised diversion of N515m from a customer’s account in Enugu.

The EFCC said its Enugu Zonal Directorate commenced the investigation following a petition submitted by the bank on June 22, 2026, accusing Nwaobi of authorising the transfer of the funds from a Debt Service Reserve Account (DSRA) belonging to DAHUA Paper Company.

According to the petition, the money was transferred in three separate transactions of N200m, N150m and N165m on July 17, 2024.

The bank alleged that the transactions were carried out through its Okpara Avenue branch in Enugu using forged documents and were authorised by Nwaobi, who was then its Head of Operations.

The petitioner said the account was reactivated in June 2024 but was not placed on Post No Debit (PND) status as required, allowing the alleged fraudulent withdrawals to take place.

Preliminary investigations by the EFCC reportedly showed that the account was used for the repayment of a Bank of Industry loan and was not intended for withdrawals or transfers to third parties without approval from the Account Officer, Regional Manager and Credit Monitoring Team.

The commission said the transactions were allegedly carried out using forged documents and authorised by Nwaobi despite the restrictions governing the account.

Nwaobi is also facing trial over the alleged unauthorised withdrawal of $510,000 belonging to another customer of the same bank, Lantern Gate Nigeria Limited.

The EFCC said he was arraigned before a Federal High Court in Enugu on November 13, 2025, on a nine-count charge bordering on forgery and criminal diversion of the funds.

The bank had alleged that the $510,000 was transferred to six different accounts without the customer’s approval, with Nwaobi allegedly authorising the transactions.

The EFCC said Nwaobi would be charged to court over the N515m allegation after investigations are concluded.