EFCC Arraigns BFI Group, Six Others for €100m Fraud

The Economic and Financial Crimes Commission, EFCC, on Thursday, January 29, 2026 arraigned BFI Group Corporation, Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward and Emeka Emmanuel Okorie before Justice M.S Idris of the Federal Capital Territory, FCT, High Court, Jabi, Abuja for alleged fraud to the tune of €100 million (One Hundred Million Euros).

They were arraigned on a five-count amended charge bordering on fraud, conspiracy and false pretence.

At Thursday’s proceedings, prosecution counsel, Ekele Iheanacho, SAN drew the attention of the court to an amended charge, dated January, 27, 2026 and filed the same date, asking the court that the same charge be read to the defendants to enable them take their plea.

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Count one reads: “That you, BFI GROUP CORPORATION, REUBEN M. JAJA, UZOR CHIDI JERRY, DAVID FEMI JAMES, IMEOBONG JUMBO UDOM, ADEOLU EDWARD, EMEKA EMMANUEL OKORIE and other persons (at large) between the 12th of August, 2020 and March, 2021 in Abuja within the jurisdiction of this Honourable court with intent to defraud, conspired amongst yourselves to induce the Central Bank of Nigeria to confer benefit on BFI Group Corporation by false pretence and thereby committed an offense contrary to and punishable under Section 8 (a) and 1 ( 3) of the Advance Fee Fraud and Other Related Offenses Act.”

Count two of the charge reads: “That you BFI GROUP CORPORATION and REUBEN M. JAJA between the 12th of August, 2020 and March 2021 in Abuja within the jurisdiction of this Honourable court with intent to defraud, did attempt to obtain Certificate of Capital Importation for the sum of €100,000,000 (One Hundred Million Euros) in favour of BFI Group Corporation by falsely claiming that the said amount was paid into account no. 010147 – EUR – CDACBN – 52 maintained by the Central Bank of Nigeria (CBN) when you knew that no such account number existed in the CBN and thereby committed an offence contrary to Section 8 (b) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”

They pleaded “not guilty” to all the charges when they were read to them, following which the prosecution counsel asked the court for a trial date and a date to respond to the defendants’ bail applications which were served to him right in the court.

Speaking on behalf of other defence counsels, Chinedu Eze, counsel to the first and second defendants, prayed the court to accept his oral bail application, citing Section 32(1) to (3) of the Administration of Criminal Justice Act 2015, ACJA and Abiola Vs FRN 1995. He further urged the court to accept his oral application and grant the second defendant bail on self-recognition as a prominent king.

Iheanacho objected to the submission of the defence counsel stating that the judicial precedents mentioned were wrongly cited as they only apply to suspects who are in detention and still under investigation, noting that the affected are no longer suspects in EFCC’s detention but defendants before the court.

“My lord, a suspect who has been charged is no longer a suspect but a defendant and the application of Section 162 of ACJA guides and regulates the issue of bail in a criminal trial like this. I don’t know the first defendant and this is the first time I am seeing him. The reference also made by counsel in Abiola Vs FRN 1995 does not apply. It was before the advent of ACJA which guides us now. They have applied in writing and their applications are still pending before this court. For them to have applied for bail in writing while the prosecution is expected to reply, then turn around to say that it is now oral is not right. In the interest of fair hearing as guaranteed in Section 26 of the 1999 Constitution of the Federal Republic, they have to be consistent with their request. Such application is misplaced and should be discountenanced my lord,” he said.

Justice Idris adjourned the matter till February 3, 2026 for ruling and adoption of bail and ordered the fourth defendant to be remanded in the EFCC holden facility, while others were remanded in Kuje Correctional Centre.