EFCC arraigns ex-NRC MD Fidet Okhiria Edetanle in Lagos over alleged $385,000 fraud and ₦165 million money laundering

The Economic and Financial Crimes Commission (EFCC) has arraigned former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Okhiria Edetanle, before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, over alleged fraud involving $385,000 and ₦165,438,000.

Also read: EFCC Pushes for Stronger Collaboration with Taraba Judiciary to Fight Financial Crimes

Edetanle faced an eight-count charge including money laundering, abuse of office, and unlawful enrichment, allegedly contravening Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.

He pleaded not guilty to all counts when the charges were read in court.

Prosecution counsel Abba Muhammad (SAN) requested that the court fix a trial date and remand the defendant in a correctional facility pending trial.

Defence counsel Adebowale Kamoru asked for a short adjournment to file a bail application, stating he had only just received the charge.

Among the counts, Edetanle was accused of transferring $205,000 from his domiciliary account with Access Bank Plc to an account belonging to Ehimen Richard Okhiria at ABN AMRO Bank in the Netherlands between May 29 and September 11, 2024, during his tenure as NRC Managing Director.

A subsequent transfer of $40,000 from the same account to the same beneficiary between October 21 and November 21, 2024, was also cited.

The EFCC alleges the funds were proceeds of unlawful activities.

Justice Oshodi ordered that Edetanle be remanded in a Nigerian Correctional Services facility pending the hearing of his bail application.

Also read: Internet Fraud Fuelling Visa Restrictions, Says EFCC

The trial was adjourned to May 13, 14, and 15, 2026 for continuation.