Access Bank Enmeshes In Internal Fraud Case As N294. 5 Million Alleged Theft Raises Dust

Access Bank Enmeshes In Internal Fraud Case As N294. 5 Million Alleged Theft Raises Dust

 

 

OpenLife Nigeria reports that Access Bank is currently entangled in internal fraud crises.

According to the story, a former staff member of Access Bank Plc, Chinonso Akujobi, has been arraigned by the Economic and Financial Crimes Commission (EFCC) over the alleged misappropriation of N294.5 million belonging to the financial institution.

Akujobi appeared before Justice Ismail Ijelu of the Lagos State High Court, Ikeja, on a five-count charge relating to alleged stealing and fraudulent diversion of Access bank funds.

According to the EFCC, the defendant allegedly exploited his position at the Access bank to transfer money from the institution’s general ledger into accounts linked to himself and other individuals, resulting in a total alleged loss of N294,595,992 million.

The Commission further alleged that part of the funds, amounting to over N109 million, was transferred through unauthorized transactions into Access Bank accounts bearing the names Chinonso A., Uchechi A., and Florence A., between January and December 2025.

The defendant pleaded not guilty to all the charges.

Following his plea, the prosecution requested that he be remanded pending trial, while the court adjourned the matter until October 8, 2026, for the hearing of his bail application and commencement of trial.

Justice Ijelu subsequently ordered that the defendant be remanded at the kirikiri Correctional Centre until further proceedings.

One of the counts read, “That you, Chinonso Akujobi, sometime between January and December, 2025, in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, and while under the employment of Access Bank Plc, stole and converted for your own use, by unauthorized payments from the general ledger of the bank to your Access Bank account number 0036668871 with the name Chinonso A., Uchechi A. and Florence A, the sum of N109,325,566.86 (One Hundred and Nine Million Three Hundred and Twenty-five Thousand Five Hundred and Sixty-six Naira Eighty-six Kobo), thereby committed an offence stealing, contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, 2015.”