EFCC Arraigns Three NRC Ex-Directors Over Alleged N2.04bn Fraud

THE Economic and Financial Crimes Commission (EFCC) has arraigned three directors of the Nigerian Railway Corporation (NRC) at different courts in Lagos State over alleged fraud, corruption and unlawful enrichment, totalling about N2.04billion.
EFCC, in statement on Wednesday, February 25, by its spokesperson, Dele Oyewale, named the defendants as Felix Njoku, a former director of Finance; Benjamin Chinwuba Iloanusi, director of Procurement; and Oche Jerry Ogbole-Inalegwu, director of Mechanical, who are facing separate charges bordering on abuse of office, money laundering and corruption. Njoku was arraigned before Justice Olubunmi Abike-Fadipe of the Special Offences Court on 17 counts, involving an alleged N736.3million fraud between January 2 and December 3, 2024.
It alleged that Njoku received N240.94million from NRC contractors through the account of Njoku and Company, domiciled in Zenith Bank Plc, after leaving office as director of Finance, for contracts awarded during his tenure.
Njoku pleaded not guilty.
Prosecution Counsel, Abba Muhammad (SAN) asked the court to fix trial dates and remand the defendant, pending determination of his bail application.
But the defence Counsel, Mordecai Adejo, urged the court to allow him to continue enjoying the administrative bail earlier granted by the EFCC.
In her ruling, Justice Abike-Fadipe granted Njoku temporary release on health grounds, ordering him to deposit his Passport and report to the EFCC’s Lagos Directorate 1 office every Monday and Friday.
The Judge adjourned the case until 10 March for hearing of the bail application and 11, 12, 18 and 19 May for trial.
Iloanusi was arraigned before Justice Ismail Ijelu on 10 counts, involving alleged N915.27million fraud.
EFCC alleged that while serving as director of Procurement between January 4 and December 30, 2022, he received N160.93million from NRC contractors through accounts domiciled in Polaris Bank Plc for contracts awarded in the course of his official duties.
He also pleaded not guilty.
Justice Ijelu ordered his remand in a correctional centre and adjourned the matter until March 3, this year, for hearing of his bail application and commencement of trial. Ogbole-Inalegwu was arraigned before Justice Mojisola Dada of the Special Offences Court on nine counts, involving an alleged N395.19million fraud.
EFCC alleged that while serving as Railway District manager between February 12 and October 29, 2019, and operating under the name, Altech Engineering Services, he received N11.39million from the China Civil Engineering Construction Company (CCECC), a contractor to the NRC, through an Access Bank Plc account, in connection with contracts awarded during his official duties.
He pleaded not guilty.
Justice Dada allowed him to continue enjoying the administrative bail earlier granted by the EFCC and adjourned the case until April 23 for hearing.
The alleged offences, the Commission, said contravened Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.
Their arraignments come a day after that of a former managing director of the corporation, Fidet Edetanle, over alleged money laundering, involving $385,000 and N165million.
Edetanle was arraigned before Justice Rahman Oshodi of the Special Offences Court on seven counts, bordering on abuse of office, money laundering and unlawful enrichment.
EFCC alleged that during and shortly after his tenure, funds were transferred from his Access Bank domiciliary account to an account at ABN AMRO Bank in the Netherlands.
In one of the counts, it alleged that between May 29 and September 11, 2024, while serving as managing director, Edetanle transferred $205,000 to an account belonging to Ehimen Okhiria in the Netherlands.
In another count, it alleged that between October 21 and November 21, 2024, after leaving office, he transferred an additional $40,000 to the same account.
The defendant pleaded not guilty.
After arguments by prosecution and defence Counsel, Justice Oshodi adjourned the case until May 13, 14 and 15.
The Judge ordered that Edetanle be remanded in a maximum-security correctional facility, pending determination of his bail application.