EFCC Arraigns NRC Officials Over ₦2.04bn Fraud

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

The defendants are: Felix Njoku, a former Director of Finance of the Nigerian Railway Corporation; Benjamin Chinwuba Iloanusi, presently a Director in the Procurement Department of the NRC, and Oche Jerry Ogbole-Inalegwu, presently Director, Mechanical.

They were arraigned on separate charges bordering on alleged abuse of office, money laundering, and unlawful enrichment by public officials to the tune of over ₦2.04 billion.

Njoku was arraigned before Justice Olubunmi Abike-Fadipe of the Special Offences Court, Ikeja, on a 17-count charge involving an alleged fraud of ₦736,320,807.08.

One of the counts against Njoku reads: “That you, Felix Njoku transacting under the name of FC Njoku and Company, after leaving office as the Director Finance, Nigerian Railway Corporation, between 2nd January, 2024 and 3rd December, 2024 in Lagos within the jurisdiction of this Honorable Court, committed an offence, to wit; unlawful enrichment by receiving the cumulative sum of Two Hundred and Forty Million, Nine Hundred and Forty Thousand Naira (N240,940,000.00) from contractors of the Nigerian Railway Corporation through the bank account of FC Njoku and Company domiciled in Zenith Bank Plc with account number: 1014247906, on account of the contracts awarded to the contractors during the discharge of your official duties”.

It was alleged that Njoku, after leaving office as Director of Finance of the NRC, between January 2 and December 3, 2024, received ₦240,940,000.00 from NRC contractors through the bank account of FC Njoku and Company domiciled in Zenith Bank Plc, linked to contracts awarded during his tenure.

Iloanusi was arraigned before Justice Ismail Ijelu of the Lagos State High Court on a 10-count charge involving an alleged ₦915,265,472.60 fraud.

One of the counts against Iloamusi reads: “That you Benjamin Chinwuba Iloanusi while serving as the Director Procurement Department, Nigerian Railway Corporation, between 4th January, 2022 and 30th December, 2022 in Lagos within the jurisdiction of this Honorable Court, committed an offence, to wit; corruption by receiving the cumulative sum of One Hundred and Sixty Million, Nine Hundred and Thirty Thousand, Four Hundred and Fifty Eight Naira, Four Kobo (N160,930,458.04) from contractors of the Nigerian Railway Corporation through your bank account domiciled in Polaris Bank Plc with account numbers: 1060170530 and 1767841197 respectively, on account of the contracts awarded to the contractors during the discharge of your official duties”.

According to the charge , Iloanusi allegedly received ₦160,930,458.04 from NRC contractors through accounts domiciled in Polaris Bank Plc, while serving as Director of Procurement between January 4 and December 30, 2022.

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The payments were allegedly connected to contracts awarded in the course of his official duties.

Ogbole was arraigned before Justice Mojisola Dada of the Special Offences Court, Ikeja, on a nine-count charge involving an alleged ₦395,190,600.00 fraud.

One of the counts against Ogbole-Inalegwu reads: “That you Oche Jerry Ogbole-Inalegwu while serving as the Railway District
Manager, Nigerian Railway Corporation and transacting under the name of
Altech Engineering Services, between 12th February, 2019 and 29th October, 2019 in Lagos within the jurisdiction of this Honorable Court, committed an offence, to wit; corruption by receiving the cumulative
sum of Eleven Million, Three Hundred and Ninety Seven Thousand, Five Hundred Naira (N11,397,500.00) from China Civil Engineering Construction Company (CCECC), a contractor of the Nigerian Railway Corporation through the bank account of Altech Engineering Services domiciled in Access Bank Plc with account number: 0018021498, on account of the contracts awarded to CCECC during the discharge of your official duties”.

It was alleged that while Ogbole-Inalegwu was serving as Railway District Manager and operating under Altech Engineering Services, allegedly received ₦11,397,500.00 from China Civil Engineering Construction Company (CCECC), an NRC contractor, through an Access Bank Plc account in relation to contracts awarded during his official duties.

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.

All defendants pleaded “not guilty” to the charges.

Following their pleas, the prosecution counsel, Abba Muhammad, SAN, requested trial dates and urged the courts to remand the defendants in correctional facilities pending trial, noting that the prosecution intended to respond to certain paragraphs in the bail applications on points of law.

The defence counsel, Mordecai Adejo, informed the courts that bail applications had been filed and served, and urged that the defendants be allowed to continue enjoying the administrative bail earlier granted by the EFCC.

Justice Abike-Fadipe granted Felix Njoku temporary release on health grounds, ordering him to deposit his international passport with the court, and report to the EFCC Lagos Directorate 1 office every Monday and Friday.

The matter was adjourned to March 10, 2026 for hearing of the bail application and May 11, 12, 18, and 19, 2026, for the commencement of trial.

Justice Ismail Ijelu remanded Iloanusi in a Correctional centre and adjourned the case till March 3, 2026, for the hearing of his bail application and commencement of trial.

Justice Dada allowed Ogbole-Inalegwu to continue enjoying the administrative bail earlier granted by the EFCC and adjourned the case till April 23, 2026 for hearing.