A senior First Bank manager has been arraigned before the Federal High Court in Lagos over allegations that she forged a document to cover foreign exchange differentials in a $400,000 credit deal.
Nnedimma Arah, branch manager of First Bank’s Dosunmu office on Lagos Island and an Associate Chartered Accountant, was docked Tuesday by detectives from the State Criminal Investigation Department, Panti-Yaba. She faces a one-count amended charge of forgery.
Prosecutor Emmanuel Eze told the court that the name of the initial co-defendant, Temitope Ogheneteme, had been struck out following advice from the Office of the Director of Public Prosecutions. Justice Daniel Osiagor granted the application, leaving Arah as the sole defendant in Charge No. FHC/L/582C/2025.
The amended charge, dated March 30, 2026, alleges that between January 2023 and January 2024, Arah forged a letter of undertaking purportedly issued by Freshborn Industries Limited. The document, dated August 12, 2022, was allegedly falsified to appear genuine, to the detriment of Freshborn Industries Nigeria Limited and its representatives, Anene Ikenna and Anene Chinyere Angela.
The offence is punishable under Section 1(2)(c) of the Miscellaneous Offences Act. Arah pleaded not guilty.
Her counsel applied for bail, asking the court to admit her on liberal terms. Justice Osiagor granted bail at N5 million with one surety in like sum. He noted that Arah had been on administrative bail and had attended all prior proceedings.
The case stalled earlier after the DPP called for the file for review under the Administration of Criminal Justice Act. That followed a petition by First Bank to the Attorney-General of the Federation.
In the petition, the bank said the matter arose from a commercial dispute over a $400,000 credit facility extended to Freshborn Industries Limited. It noted that the dispute is already subject of a civil suit before a Lagos State High Court and argued that the criminal case amounts to an abuse of court process.
Justice Osiagor adjourned the trial to July 14 and 15, 2026.
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