Access Bank Plc and one of its employees are facing serious legal action after the Federal Government filed a four-count charge against them at the Federal High Court over the alleged diversion of N825.9 million in state funds into a fraudulent account.
According to court documents obtained by Newslens NG, the charges follow an investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Filed at the Federal High Court in Sokoto, the charges name Abdulmalik Abubakar, a relationship manager at Access Bank’s Sokoto branch, and the bank itself. They are accused of conspiracy, money laundering, and concealing stolen funds in breach of Nigeria’s anti-corruption laws.
In the first count, the prosecution alleges that the defendants created a fake “Internal Revenue Service Account” (No. 1873016763), through which they fraudulently received N825.9 million between May 2024 and January 2025. This, the state contends, violates the Money Laundering (Prevention and Prohibition) Act, 2022, and the Corrupt Practices and Other Related Offences Act, 2000.
The second count accuses them of concealing the funds in the same fraudulent account, said to be operated at Access Bank’s Sokoto branch. Prosecutors claim this constitutes an offence under multiple sections of the Money Laundering Act.
In the third count, the state argues that the defendants fraudulently received the funds through the fake account, breaching Section 13 of the Corrupt Practices Act and attracting penalties under Section 68 of the same law.
The fourth count alleges that both Mr. Abubakar and the bank deliberately concealed the laundered funds, in violation of Section 24 of the Corrupt Practices Act.
Prosecutors say the entire sum was diverted without official authorization, hidden in a manner that violated Nigeria’s anti-corruption and anti-money laundering statutes.
Hearing Scheduled
A hearing notice dated 2 May indicates that the matter has been moved from the General Cause List to the hearing stage, scheduled for 19 May, subject to court availability. The hearing may span up to two days.
Both parties are required to present all evidence, including witness testimonies and relevant documents, during the hearing. Any party wishing to summon witnesses must immediately apply for a court-issued summons and bear related costs. Parties must also provide written notice if they intend to use documents in the possession of the other.
Failure to present required evidence during the hearing may result in exclusion or additional costs, as stated in the court’s notice issued by order of the presiding judge.
