EFCC Begins Trial of Ex-Access Bank Staff Over Alleged ₦294.6m Theft

The Economic and Financial Crimes Commission (EFCC) is set to begin its case against former Access Bank Plc employee Chinonso Akujobi, who is facing a five-count charge over the alleged theft and unlawful conversion of ₦294,595,992 belonging to the financial institution.

Akujobi was arraigned on July 9, 2026, before Justice I.O. Ijelu of the Lagos State High Court sitting in Ikeja, following an investigation by the EFCC’s Lagos Zonal Directorate 2. She pleaded not guilty to all five counts. 

The case is scheduled to return to court on Thursday, October 8, 2026, for the hearing of her bail application and the commencement of trial. A case-tracking record maintained by TransparencIT lists the matter as being at the prosecution stage.

What the EFCC alleges

According to the prosecution, the alleged offences occurred between January and December 2025, when Akujobi was still employed by Access Bank.

The EFCC alleges that funds belonging to the bank were diverted through unauthorised payments made from the institution’s general ledger. The commission’s case is that the transactions resulted in the alleged conversion of bank funds for personal use. 

One of the five counts focuses on ₦109,325,566.86, which the prosecution alleges was transferred from the bank’s general ledger into an Access Bank account numbered 0036668871, bearing the names Chinonso A., Uchechi A. and Florence A.

The EFCC says the alleged transaction was carried out without authorisation and amounted to stealing under Section 280, punishable under Section 287 of the Criminal Law of Lagos State, 2015. The five counts collectively put the amount allegedly involved at ₦294,595,992. 

How the alleged scheme came to light

Reports on the case indicate that the matter followed an internal audit and petition by Access Bank, which allegedly flagged suspicious transactions involving the bank’s general ledger and accounts associated with Akujobi and other names. 

The available reporting does not, however, establish the precise internal controls involved, the level of access Akujobi allegedly possessed, how the transactions were authorised or detected, or whether any other individuals will feature in the prosecution’s case. Those matters would ordinarily be tested through documentary and witness evidence during trial.

Defendant pleads not guilty

When the five charges were read to her in July, Akujobi entered a plea of not guilty.

Following the plea, EFCC prosecutor S.M. Yabo asked the court to remand the defendant in a correctional facility and requested a date for trial.

Justice Ijelu ordered that Akujobi be remanded at the Ikoyi Correctional Centre and adjourned the matter to October 8 for the hearing of the bail application and commencement of trial. 

Why the case matters

The case centres on alleged misuse of a bank’s internal financial infrastructure rather than an external attack on a customer’s account. The prosecution’s allegations specifically concern payments purportedly made through the institution’s general ledger and the alleged movement of funds into accounts linked to the defendant.

For banks, internal controls around ledger entries, payment authorisation, reconciliation and employee access are important safeguards against unauthorised transactions. But the available court reports do not establish that any particular control failed in this case; the prosecution will have to prove its allegations with evidence at trial.

The ₦294.6 million figure also represents the total alleged amount across the five counts, rather than a single transaction. One identified transaction in the charge involves ₦109.325 million. 

What happens next

With the matter listed for October 8, the immediate issues before the court include the defendant’s bail application and the commencement of the prosecution’s case.

The prosecution will have to present evidence to establish the elements of the alleged offences. Akujobi, having pleaded not guilty, remains entitled to the presumption of innocence unless and until a court determines otherwise.

The case is therefore still at the trial stage, and the allegations made by the EFCC should not be presented as established facts.