A senior official of First Bank of Nigeria Limited, Nnedimma Arah, has been arraigned before the Federal High Court in Lagos over an alleged foreign exchange (FX)-related forgery.

Arah, an Associate Chartered Accountant and branch manager at the bank’s Dosunmu office on Lagos Island, was docked by police detectives from the State Criminal Investigation Department (SCID), Panti-Yaba, on a one-count amended charge bordering on forgery.

During proceedings, the prosecution counsel, Emmanuel Eze, told the court: “We have filed a Motion on Notice to strike out the name of the initial co-defendant based on legal advice from the Director of Public Prosecutions.”

The trial judge, Daniel Osiagor, granted the application, removing Temitope Ogheneteme from the charge and leaving Arah as the sole defendant in Charge No. FHC/L/582C/2025.

According to the amended charge dated March 30, 2026, Arah is accused of forging a letter of undertaking purportedly issued by Freshborn Industries Limited to cover foreign exchange differentials.

The prosecution alleged: “The document, dated August 12, 2022, was falsified with intent to present it as genuine, to the detriment of Freshborn Industries Nigeria Limited and its representatives.”

The alleged offence reportedly occurred between January 2023 and January 2024 at the bank’s Dosunmu branch and is said to contravene provisions of the Miscellaneous Offences Act.

Arah pleaded not guilty to the charge.

Following her plea, her counsel urged the court to grant bail on liberal terms, arguing that she had complied with prior administrative bail conditions.

Ruling on the application, Justice Osiagor said: “The defendant has been consistent in attending proceedings. Bail is granted in the sum of ₦5 million with one surety in like sum.”

The case had earlier experienced delays after the Office of the Director of Public Prosecutions requested a review of the case file under the Administration of Criminal Justice Act, following a petition by First Bank.

In its petition to the Attorney-General of the Federation, the bank maintained that the matter stemmed from a commercial dispute involving a $400,000 credit facility granted to Freshborn Industries Limited. The bank argued: “The issues are already subject to a pending civil suit before a Lagos State High Court and the criminal proceedings amount to an abuse of court process.”

Justice Osiagor adjourned the matter to July 14 and 15, 2026, for the commencement of trial.