EFCC arraigns NRC officials in N2bn fraud case

EFCC arraigns three NRC officials in Lagos over N2.04bn fraud, corruption, and money laundering, with trial dates set and bail conditions imposed

The Economic and Financial Crimes Commission on Wednesday arraigned three senior officials of the Nigerian Railway Corporation before the Lagos State High Court, Ikeja, over alleged fraud, corruption, and money laundering amounting to more than N2.04 billion.

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The defendants are Felix Njoku, Benjamin Chinwuba Iloanusi, and Oche Jerry Ogbole-Inalegwu. Each faced separate charges relating to abuse of office, unlawful enrichment, and corruption.

Njoku was arraigned before Justice Olubunmi Abike-Fadipe on a 17-count charge involving an alleged N736,320,807.08 fraud.

The EFCC alleged that Njoku, trading as FC Njoku and Company, received N240,940,000 from NRC contractors through a Zenith Bank account linked to contracts awarded during his tenure. He pleaded not guilty.

Justice Abike-Fadipe granted Njoku temporary release on health grounds, requiring him to deposit his international passport and report to EFCC Lagos Directorate 1 every Monday and Friday.

The court adjourned the case to March 10, 2026, for bail application hearing and set trial dates for May 11, 12, 18, and 19, 2026.

Iloanusi faced a 10-count charge before Justice Ismail Ijelu involving an alleged N915,265,472.60 fraud.

He was accused of receiving N160,930,458.04 from NRC contractors via Polaris Bank accounts between January and December 2022.

Iloanusi pleaded not guilty and was remanded in a correctional centre, with bail hearing and trial set for March 3, 2026.

Ogbole-Inalegwu was arraigned before Justice Mojisola Dada on a nine-count charge involving N395,190,600 fraud.

The EFCC alleged that he received N11,397,500 from China Civil Engineering Construction Company through an Access Bank account while operating as Altech Engineering Services in 2019.

He pleaded not guilty and continues on administrative bail. The case was adjourned to April 23, 2026.

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The EFCC stated that the alleged offences contravene Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.

Quadri Olaitan