The Chief Executive Officer of Brookfield Group Holdings, Olatunji Oluwaseun Adebola—popularly known as Whitelion—has been arraigned before Justice C. Ngozi of the Federal Capital Territory High Court in Maitama, Abuja.
Adebola appeared alongside his firm, Brookfield Mining Limited, answering to a four-count charge brought against him by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC). The charges center on alleged criminal conspiracy, obtaining money under false pretenses, and the dishonest misappropriation of funds totaling N990,000,000.
According to court filings, the prosecution maintained that the defendants collected the massive sum under the pretense of executing a foreign exchange transaction amounting to $750,000 for a petitioner. The investigation was initiated following a formal petition filed on April 6, 2026, through BB Dan Habu & Co. Solicitors.
During Thursday’s court session, the defendant entered a “not guilty” plea to all counts. While the EFCC prosecution counsel, Oluwakemi Yemi-Makinde, requested a trial date and asked that the defendant be remanded in a correctional facility, defense lawyers countered with a formal application for bail.
In her ruling, Justice Ngozi granted bail to the defendant, stipulating that he must provide two reliable sureties. The conditions mandate that one surety must be a civil servant on Grade Level 15, while the second must be a civil servant possessing landed property within the Federal Capital Territory, Abuja.
The presiding judge subsequently adjourned the proceedings to September 15, 2026, for the commencement of trial.
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