After prolonged delay, First Bank Manager docked over alleged FX document fraud
Maureen Aguta
After more than a year of adjournments, police detectives from the State Criminal Investigation Department (SCID), Panti, Lagos, have arraigned a senior manager of First Bank of Nigeria Limited, Nnedimma Arah, before the Federal High Court in Lagos over an alleged forgery offence.
Arah was formally docked on Monday following an amended charge filed by the prosecution in line with legal advice from the Office of the Director of Public Prosecutions (DPP) of the Federation.
At the proceedings, prosecuting counsel, Emmanuel Eze, informed the court of a motion seeking to strike out the name of the co-defendant, Temitope Ogheneteme, based on the DPP’s recommendation.
Justice Daniel Osiagor granted the application, effectively discontinuing the case against Ogheneteme and leaving Arah as the sole defendant in Charge No. FHC/L/582C/2025.
According to the amended one-count charge dated March 30, 2026, Arah—an Associate Chartered Accountant and branch manager of the bank’s Dosunmu office on Lagos Island—is accused of forging a letter of undertaking purportedly issued by Freshborn Industries Limited to cover foreign exchange differentials.
The alleged offence was said to have taken place between January 2023 and January 2024. Prosecutors claim the document, dated August 12, 2022, was falsified and presented as genuine, with intent to prejudice Freshborn Industries Nigeria Limited and its representatives, Anene Ikenna and Anene Chinyere Angela.
The charge is brought under Section 1(2)(c) of the Miscellaneous Offences Act.
Arah pleaded not guilty.
Following her plea, defence counsel applied for bail, noting that the defendant had previously been granted administrative bail and had consistently attended proceedings. Justice Osiagor granted bail in the sum of ₦5 million, with one surety in like sum.
The case had earlier stalled after First Bank petitioned the Attorney-General of the Federation, prompting the DPP to request the case file for review in January 2026 in accordance with the Administration of Criminal Justice Act.
In its petition, the bank argued that the matter stemmed from a commercial dispute involving a $400,000 credit facility granted to Freshborn Industries Limited, which is already the subject of a pending civil suit before the Lagos State High Court. It warned that pursuing criminal charges in the circumstances could amount to an abuse of judicial process.
Justice Osiagor has adjourned the matter to July 14 and 15, 2026, for the commencement of trial.