Access Bank Plc and one of its employees are facing serious legal troubles after the Federal Government filed a four-count charge at the Federal High Court in Sokoto over the alleged diversion of N825.9 million in public funds.
According to court documents obtained by Premium News, the charges stem from an investigation conducted by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
The case involves Abdulmalik Abubakar, a relationship manager at Access Bank’s Sokoto branch, and the bank itself. Both are accused of conspiracy, money laundering, and concealing stolen funds.
Alleged Fraudulent Account
Prosecutors allege that between May 2024 and January 2025, the defendants created a fake “Internal Revenue Service Account” with account number 1873016763 at Access Bank’s Sokoto branch. Through this account, they reportedly received N825.9 million in state funds without proper authorization.
The charges state that this conduct violated Nigeria’s Money Laundering (Prevention and Prohibition) Act, 2022, as well as the Corrupt Practices and Other Related Offences Act, 2000.
Details of the Charges
Count One accuses the defendants of conspiracy to commit money laundering by creating a fraudulent bank account to receive the funds.
Count Two alleges the concealment of the same funds through the fraudulent account.
Count Three charges the defendants with fraudulently receiving money, in breach of anti-corruption laws.
Count Four claims the direct concealment of laundered funds, also in violation of anti-corruption statutes.
If found guilty, the defendants face penalties under various provisions of the Money Laundering Act and the Corrupt Practices Act.
Hearing Scheduled
A court hearing notice dated May 2 indicates that the case, originally on the General Cause List, is now set for hearing on May 19—subject to the court’s schedule. The hearing may last up to two days, and all evidence, including witnesses and documents, must be presented during that period.
The court emphasized that any party seeking an adjournment must apply early and justify the request, especially if based on factual matters. The notice also outlined procedures for summoning witnesses, submitting documents, and ensuring fees are paid for witness appearances.
Access Bank Responds
When contacted, Access Bank’s spokesperson, Kunle Aderinokun, confirmed awareness of the matter and stated that the bank would issue an official statement in due course.
The case highlights ongoing efforts by Nigerian anti-corruption agencies to clamp down on financial misconduct in both public and private institutions.
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