₦2B Fraud Sh*ck: EFCC Arraigns Three NRC Directors – See Photos

The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned three senior officials of the Nigerian Railway Corporation (NRC) at the Lagos State High Court, Ikeja, over alleged fraud and money laundering totaling more than ₦2.04 billion.

The defendants are Felix Njoku, former Director of Finance; Benjamin Chinwuba Iloanusi, current Director of Procurement; and Oche Jerry Ogbole-Inalegwu, Director of Mechanical. They face separate charges of abuse of office, corruption, money laundering, and unlawful enrichment.

Njoku was arraigned before Justice Olubunmi Abike-Fadipe of the Special Offences Court on a 17-count charge involving an alleged ₦736.32 million fraud. One of the counts alleges that Njoku, through FC Njoku and Company, received ₦240.94 million from NRC contractors during his tenure. He pleaded not guilty. Justice Abike-Fadipe granted him temporary release on health grounds, ordering him to deposit his international passport and report to the EFCC Lagos office twice weekly. The trial was adjourned to May 11, 12, 18, and 19, 2026, with bail proceedings scheduled for March 10, 2026.

Iloanusi faced a 10-count charge before Justice Ismail Ijelu, relating to an alleged ₦915.27 million fraud. He is accused of receiving ₦160.93 million from contractors through accounts in Polaris Bank. He pleaded not guilty, and Justice Ijelu ordered his remand in a correctional centre pending bail proceedings set for March 3, 2026, alongside the commencement of his trial.

Ogbole-Inalegwu was arraigned before Justice Mojisola Dada on a nine-count charge concerning an alleged ₦395.19 million fraud. One count alleges he received ₦11.39 million from China Civil Engineering Construction Company (CCECC) through an account linked to Altech Engineering Services. He pleaded not guilty and was allowed to continue on administrative bail previously granted by the EFCC. His case was adjourned to April 23, 2026.

During the proceedings, prosecution counsel Abba Muhammad, SAN, requested the courts to fix trial dates and remand the defendants, while defence counsel Mordecai Adejo urged the courts to allow the defendants to continue on their administrative bail. 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.

Further proceedings in the cases are expected in March and April 2026.