EFCC Arraigns 3 Nigerian Railway Employees Over Alleged N2.04bn Fraud

The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned three senior officials of the Nigerian Railway Corporation (NRC) before the Lagos State Special Offences Court in Ikeja on charges of fraud and money laundering.

The defendants:  a former Director of Finance, Felix Njoku, a current Director in the Procurement Department, Benjamin Iloanusi and a Director of Mechanical, Oche Ogbole-Inalegwu, were docked before Justice Olubunmi Abike-Fadipe, Justice Ismail Ijelu and Justice Mojisola Dada.

The defendants are facing separate charges involving abuse of office, money laundering, and unlawful enrichment totalling over N2.04 billion.

Njoku was arraigned by the anti-graft agency before Justice Abike- Fadipe on a 17- count charge of allegedly defrauding the Corporation of N736,320,807.08

The EFCC alleged that Njoku, after leaving office as Director of Finance of the NRC, between January 2 and December 3, 2024, received N240,940,000.00 from NRC contractors through the bank account of FC Njoku and Company domiciled in Zenith Bank Plc, linked to contracts awarded during his tenure.

While Iloanusi was arraigned before Justice Ijelu on a 10-count charge of allegedly receiving N915,265,472.60 from NRC contractors while serving as Director of Procurement in 2022.

According to the charge, Iloanusi allegedly received N160,930,458.04 from NRC contractors through accounts domiciled in Polaris Bank Plc, while serving as Director of Procurement between January 4 and December 30, 2022.

The payments were allegedly linked to contracts awarded during his official duties.

On his part, Ogbole faced a nine-count charge before Justice Dada. He was accused of receiving N395,190,600 from China Civil Engineering Construction Company (CCECC) via Altech Engineering Services’ account, related to contracts awarded during his time as Railway District Manager.

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

However, the defendants pleaded not guilty to the charges. The prosecution requested trial dates and an order remanding the defendants in a correctional facility, while the defence lawyers urged the court to grant their clients bail.

In her ruling, Justice Abike- Fadipe released Njoku temporarily on health-related grounds with conditions.  Iloanusi was remanded in custody, and Ogbole-Inalegwu’s bail was extended.

The cases were adjourned for subsequent hearings in March and May 2026.