# EFCC investigates ex-banker over N515 million diversion

> EFCC probes ex-banker for N515 million customer account theft.
- Title: EFCC investigates ex-banker over N515 million diversion
- Summary: EFCC probes ex-banker for N515 million customer account theft. EFCC is investigating former bank operations manager Obinna Nwaobi over alleged diversion of…
- Keywords: efcc, obinna nwaobi, daehua paper company, debt service reserve account, n515 million, bank operations manager, forged documents, federal high court, bail, n250 million, Premium Times Nigeria
- Source: Premium Times Nigeria — https://premiumtimesng.com/news/top-news/923045-efcc-investigates-ex-banker-over-alleged-n515-million-diversion.html
- Author: Emmanuel Agbo
- Published: 2026-11-05T19:36:08+00:00
- Read time: 1 min
- Topics: efcc, obinna nwaobi, daehua paper company, debt service reserve account, n515 million, bank operations manager, forged documents, federal high court, bail, n250 million, news, politics
## EFCC investigation
The Economic and Financial Crimes Commission is investigating former bank operations manager Obinna Nwaobi over alleged diversion of N515 million from DAHUA Paper Company's account.
## Alleged withdrawals
The petition claims N200 million, N150 million and N165 million were withdrawn from the Debt Service Reserve Account on 17 July 2024.
## Bank allegation
The bank says transactions were processed at its Okpara Avenue branch in Enugu using forged documents and authorized by Nwaobi.
## Account reactivation
The account was reactivated in June 2024 but not placed on Post No Debit restriction.
## EFCC's claim
EFCC states the account was opened for Bank of Industry loan repayment and not for ordinary transactions.
## Approval process
Withdrawals require approval from account officer, regional manager and credit monitoring team.
## Investigation status
Preliminary investigations show N515 million transactions were carried out without required approvals.
## Other charges
Nwaobi faces trial on charges of diverting $510,000 from Access Bank customer Lantern Gate Nigeria Limited.
## Court case
He was arraigned in November 2025 on nine charges of forgery and criminal diversion.
## Bail granted
The court granted him bail in N250 million with three sureties in like sum.
## Trial date
The case is adjourned to 10, 11 and 12 March 2.026 for trial.
## Bank identity
EFCC did not name the bank involved in the N515 million allegation but said transactions were processed through Okpara Avenue branch in Enugu.
## Charges expected
Nwaobi will be charged after EFCC completes investigations into the latest allegation.
## Key takeaway

EFCC is investigating former bank operations manager Obinna Nwaobi over alleged diversion of N515 million from DAHUA Paper Company's Debt Service Reserve Account.