Access Bank Plc and one of its employees are enmeshed in legal troubles after a four-count charge was filed against them at the Federal High Court over alleged diversion of N825.9 million in state funds into a fraudulent account.
The charges, filed by the federal government, followed an investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), according to court documents seen by this newspaper.
The charges, filed at the Sokoto Judicial Division, accuse Abdulmalik Abubakar, a relationship manager at Access Bank’s Sokoto branch, and the bank itself of conspiracy, money laundering, and concealment of stolen funds.
The state counsel in count one alleged that the defendants created a fake “Internal Revenue Service Account” with number 1873016763, through which they received N825.9 million between May 2024 and January 2025, in violation of Nigeria’s Money Laundering Act of 2022 and the Corrupt Practices Act of 2000.
The second count accuses them of allegedly concealing the same funds through the same fraudulent account, said to have been created at Access Bank’s Sokoto branch.
According to the court, the bank and Mr Abubakar committed an offence contrary to section 18 (2)(a) and punishable under sections 18(3), 18 (4), 22(1) and 22(2) of the Money Laundering (Prevention and Prohibition) Act, 2022.
In Count Three, prosecutors say the money was fraudulently received through the fake account, “thereby committing an offence contrary to section 13 and punishable under section 68 of the Corrupt Practices and Other Related Offences Act, 2000.”
Count Four alleges that Mr Abubakar and the bank directly concealed the laundered funds, “thereby committing an offence contrary to and punishable under section 24 of the Corrupt Practices and Other Related Offences Act, 2000.”
The state said the money was diverted without authorisation and concealed in breach of anti-corruption and money laundering laws.
According to a hearing notice signed on 2 May, the case had been moved from the General Cause List to a hearing set for 19 May. It will be heard on that date if the court’s schedule allows; otherwise, it will be postponed without further notice. The hearing may last up to two days.
The notice said either party wishing to postpone must apply to the court promptly and provide proof if the reason involves factual matters.
At the hearing, both parties must present all evidence, including witnesses and documents. Evidence must be submitted during the hearing; failure to do so may result in exclusion or costs.
It said parties wanting witnesses to attend should immediately request the court to issue summons, allowing enough time to notify them. If witnesses must bring documents, these must be clearly specified.
The party requesting witnesses must pay reasonable fees for their expenses and loss of time, as fixed by the court. Attendance may be refused if fees are not deposited.
If either party wishes to use documents held by the other, they must notify them in writing ahead of the hearing. Otherwise, they cannot present secondary evidence.
The notice was issued by order of the court.
When contacted, the Access Bank spokesperson, Kunle Aderinokun, said the bank would issue an official statement on the matter
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