He was charged at the Federal High Court in Lagos with withdrawing N8.7million from the customer’s account.
The alleged offence, EFCC said contravened sections 22, 22(2) and 37 of the Cyber Crimes Prohibition Act, 2015.
EFCC alleged that Adeniyi, on May 8, last year, while working at Union Bank, failed to obtain proper data of a customer, Alexander Cherembem, before processing Unionmobile application for him.
The commission said the former banker subsequently conspired with others to impersonate the customer and withdraw the money from his account.
Adeniyi pleaded not guilty.
Prosecuting Counsel Ms C. Okezie told Justice Chuka Obiozor that parties had reached a plea bargain agreement.
She said about N2.9million was recovered from the defendant, out of which N1million was transmitted to the bank.
The bank’s fraud recovery sub-unit team lead, Mr Idakwo Haruna, added that the bank accepted the agreement terms.
He said Union Bank undertook to repay the complainant and was in the process of approving the payment.
Justice Austine Obiozor adjourned until July 23 to enable the bank refund the customer, following which the plea bargain agreement will be adopted in court.