EFCC Drags Three Top NRC Officials to Court Over Alleged N2.04bn Fraud

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‎..EFCC is investigating the trio on alleged fraud, corruption, and money laundering amounting to over N2.04 billion.

‎‎LAGOS, NIGERIA- The iNews Times | The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned three senior officials of the Nigerian Railway Corporation before the Lagos State High Court sitting in Ikeja over alleged fraud, corruption and money laundering totalling more than N2.04bn.

‎The defendants, Felix Njoku, a former Director of Finance; Benjamin Chinwuba Iloanusi, a serving Director in the corporation’s Procurement Department; and Oche Jerry Ogbole-Inalegwu, Director of Mechanical were brought before different judges of the Special Offences Court on separate charges of abuse of office, unlawful enrichment and corruption.

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

‎The EFCC alleged that Njoku, who operated under the name FC Njoku and Company after leaving office as Director of Finance, received N240,940,000 between January 2 and December 3, 2024, from NRC contractors through a Zenith Bank Plc account linked to contracts awarded during his tenure.

‎According to the charge, the money was allegedly paid “on account of the contracts awarded to the contractors during the discharge of your official duties.”

‎Njoku pleaded not guilty.

‎Following his plea, prosecution counsel, Abba Muhammad (SAN), requested a trial date and urged the court to remand him pending trial, adding that the prosecution would respond to certain aspects of the bail application on points of law.

‎Defence counsel, Mordecai Adejo, informed the court that a bail application had already been filed and appealed for the defendant to continue enjoying the administrative bail earlier granted by the EFCC.

‎Justice Abike-Fadipe granted Njoku temporary release on health grounds, ordered him to surrender his international passport, and directed him to report to the EFCC Lagos Directorate 1 office every Monday and Friday.

‎The case was adjourned to March 10, 2026, for the hearing of the bail application, while May 11, 12, 18 and 19, 2026, were fixed for trial.

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

‎The prosecution claimed that while serving as Director of Procurement between January 4 and December 30, 2022, Iloanusi received N160,930,458.04 from NRC contractors through Polaris Bank Plc accounts in connection with contracts awarded in the course of his duties.

‎He also pleaded not guilty.

‎Justice Ijelu ordered that he be remanded in a correctional centre and adjourned the matter until March 3, 2026, for the hearing of his bail application and commencement of trial.

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

‎The EFCC alleged that while serving as Railway District Manager and operating under the name Altech Engineering Services between February 12 and October 29, 2019, he received N11,397,500 from China Civil Engineering Construction Company, an NRC contractor, through an Access Bank Plc account in relation to contracts awarded during his official duties.

‎He pleaded not guilty.

‎Justice Dada permitted him to continue on the administrative bail earlier granted by the EFCC and adjourned the case until April 23, 2026, for hearing.

‎The anti-graft agency said 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.