EFCC arraigns ex-banker over alleged diversion, conversion of $510,000
By Onyewuchi Ojinnaka
The Economic and Financial Crimes Commission (EFCC) has arraigned an ex- banker, Obinna Nwaobi, before the Federal High Court sitting in Enugu over alleged criminal diversion of a customer’s $510,000.
Nwaobi was brought before Justice C.O. Ajah on a seven-count charge bordering on obtaining money by false pretence, fraudulent conversion, and stealing.
The EFCC stated that he abused his position as a banking officer to illicit divert of funds entrusted to him by a customer.
According to the charge, Nwaobi allegedly received the sum of $510,000 from a customer under the guise of helping to manage and invest the funds but dishonestly converted the money to his personal use.
The offences, the Commission noted, violate Section 1(1)(a) of the Advance Fee Fraud Act 2006 and Sections 342 and 343 of the Criminal Code Law of Enugu State.
The Commission stated that the alleged fraud was uncovered after the new generation bank where Nwaobi previously worked detected suspicious transfers linked to him.
An internal review reportedly confirmed the irregularities, prompting the bank to escalate the matter to the EFCC, which then opened a full-scale investigation leading to his arraignment.
A senior compliance officer of the bank explained that strengthened surveillance systems and routine monitoring helped to detect the suspicious transactions early.
The bank, he said, remains committed to sanitising the financial sector by reinforcing its anti-fraud unit and investing in advanced tools that track unusual account activities in real time.
The bank reaffirmed its collaboration with law-enforcement agencies to ensure that any staff member involved in fraudulent activity is promptly identified and prosecuted as part of wider efforts to protect customer funds and bolster public confidence in the banking system.
Nwaobi pleaded not guilty to all the counts. Following his not guilty plea, the prosecution counsel requested a trial date and asked the court to remand the defendant.
Justice Ajah ordered that the defendant be remanded at the Enugu State Correctional Facility pending the determination of his bail application and adjourned the matter for further hearing.
