- EFCC Arraigns Ex-NRC MD Over Alleged $385,000, N165.5m Fraud
- Charges With Unlawful Enrichment
- Pleads Not Guilty to Seven-Count Charge
The Economic and Financial Crimes Commission on Tuesday arraigned a former Managing Director of the Nigerian Railway Corporation, Fidet Edetanle, over alleged laundering of $385,000 and N165.5 million.
Eko Hot Blog reports that Edetanle was docked before an Ikeja Special Offences Court on a seven-count charge bordering on abuse of office, money laundering and unlawful enrichment by a public official. He pleaded not guilty to the charges.
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Leading the prosecution, EFCC counsel, Abba Muhammad (SAN), told the court that the defendant, while serving as managing director of the corporation between 2016 and 2024 in Lagos, allegedly abused his office in the award of contracts in violation of the Public Procurement Act, 2007, with intent to obtain undue advantage for himself.
The prosecution further alleged that between May 29 and September 11, 2024, the defendant engaged in acts of money laundering while still in office. He was accused of transferring $205,000 from his domiciliary account with Access Bank Plc to the account of one Ehimen Okhiria domiciled with ABN AMRO Bank in the Netherlands. The funds were said to be proceeds of unlawful activities.
In another count, the anti-graft agency alleged that between October 21 and November 21, 2024, the defendant transferred a cumulative sum of $385,000 and N165.5 million from his Access Bank domiciliary account to the same ABN AMRO Bank account.
According to the EFCC, the alleged offences contravened Sections 332(1) and 332(3), 73(1), and 82(c) of the Criminal Law of Lagos State, 2011.
The prosecution requested a trial date and urged the court to remand the defendant pending trial.
Defence counsel, Adebowale Kamoru, told the court he had just received the charge and sought a short adjournment, but the court denied the application and ordered that the plea be taken.
Justice Rahman Oshodi adjourned the case until May 13 for commencement of trial and ordered that the defendant be remanded in a maximum correctional facility pending determination of his bail application.
