A former Access Bank employee has been dragged before a Lagos court after the Economic and Financial Crimes Commission (EFCC) accused him of illegally moving nearly ₦300 million from customers’ accounts.
The defendant, Chinonso Akujobi, was arraigned before Justice I.O. Ijelu of the Lagos State High Court sitting in Ikeja on Thursday. According to the anti-graft agency, the former banker allegedly diverted over ₦294.5 million while working for the financial institution.
The EFCC, through its Lagos Zonal Directorate 2, filed a five-count charge against Akujobi, accusing him of stealing and unlawfully converting customers’ funds for personal use.
However, the defendant denied all the allegations and pleaded not guilty when the charges were read in court.
According to the commission, the alleged fraud was carried out between January and December 2025 while Akujobi remained an employee of Access Bank.
One of the charges stated that the defendant:
“with a dishonest intent, and while under the employment of Access Bank Plc, st@le and converted for your own use, by unauthorized payments from the general ledger of the bank to your Access Bank account, the sum of N109,325,566.86.”
Furthermore, the EFCC alleged that the money was transferred into several personal accounts bearing the names Chinonso A., Uchechi A., and Florence A.
Investigators believe the transactions were carried out without proper authorization, resulting in substantial financial losses. Moreover, prosecutors argued that the movement of the funds formed part of a wider pattern of alleged financial misconduct during the period under review.
Following the defendant’s plea, the prosecution counsel, S.M. Yabo, asked the court to fix a trial date. In addition, the prosecution requested that the accused be remanded in custody pending the determination of his bail application.
Justice I.O. Ijelu subsequently adjourned the matter until October 8, 2026. The date will be used for the hearing of the bail application and the commencement of trial.
Meanwhile, the court ordered that Akujobi be remanded at the Ikoyi Correctional Centre until further proceedings.
The fraud case has once again highlighted concerns about internal financial controls within commercial banks.
Moreover, the development serves as another reminder that regulatory agencies continue to monitor alleged financial crimes involving banking institutions across Nigeria.
Although the allegations remain before the court, the EFCC maintains that the evidence gathered during its investigation supports the charges filed against the former banker.
However, under Nigerian law, Akujobi remains presumed innocent unless the allegations are proven beyond reasonable doubt in court.
The outcome of the trial is expected to provide more clarity on the circumstances surrounding the alleged diversion of funds.
