EFCC Arraigns Three NRC Directors Over Alleged ₦2.04bn Fraud in Lagos

EFCC Arraigns Three NRC Directors Over Alleged ₦2.04bn Fraud in Lagos

The Economic and Financial Crimes Commission (EFCC) on Wednesday, February 25, 2026, arraigned three senior officials of the Nigerian Railway Corporation (NRC) before the Lagos State High Court sitting in Ikeja over alleged fraud, money laundering and abuse of office totaling over ₦2.04 billion.

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The defendants are Felix Njoku, a former Director of Finance of the NRC; Benjamin Chinwuba Iloanusi, Director in the Procurement Department; and Oche Jerry Ogbole-Inalegwu, Director, Mechanical. They were docked on separate charges before different judges of the Special Offences Courts in Ikeja.

Njoku Faces 17-Count Charge

Njoku was arraigned before Olubunmi Abike-Fadipe on a 17-count charge involving an alleged ₦736,320,807.08 fraud.

One of the counts alleged that Njoku, trading under the name FC Njoku and Company, received ₦240,940,000.00 from NRC contractors between January 2 and December 3, 2024, after leaving office as Director of Finance. The funds were allegedly paid into an account domiciled in Zenith Bank Plc in connection with contracts awarded during his tenure.

He pleaded not guilty to the charges. Following his plea, the court granted him temporary release on health grounds, ordering him to deposit his international passport and report to the EFCC Lagos Directorate 1 office every Monday and Friday. The matter was adjourned to March 10, 2026, for hearing of his bail application and May 11, 12, 18 and 19, 2026, for trial.

Iloanusi Docked Over ₦915m Allegation

Iloanusi was arraigned before Ismail Ijelu on a 10-count charge involving an alleged ₦915,265,472.60 fraud.

The prosecution alleged that while serving as Director of Procurement between January 4 and December 30, 2022, he received ₦160,930,458.04 from NRC contractors through accounts domiciled in Polaris Bank Plc in relation to contracts awarded in the course of his official duties.

He also pleaded not guilty and was remanded in a correctional centre pending the hearing of his bail application, which was adjourned to March 3, 2026.

Ogbole Arraigned on Nine Counts

Ogbole-Inalegwu was arraigned before Mojisola Dada on a nine-count charge involving an alleged ₦395,190,600.00 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 ₦11,397,500.00 from China Civil Engineering Construction Company (CCECC), an NRC contractor, through an Access Bank Plc account linked to contracts awarded during his official duties.

He pleaded not guilty, and the court allowed him to continue enjoying the administrative bail earlier granted by the EFCC. The case was adjourned to April 23, 2026, for hearing.

The offences are said to contravene Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.

Prosecution counsel Abba Muhammad, SAN, requested trial dates and urged the courts to remand the defendants pending trial, while defence counsel Mordecai Adejo sought the continuation of earlier administrative bail.

The separate proceedings mark another high-profile anti-corruption case involving senior public officials in the transport sector.

EFCC Arraigns Three NRC Directors Over Alleged ₦2.04bn Fraud in Lagos