EFCC Arraigns Suspects in Separate Multi-Million Naira Fraud Cases in Lagos and Benin-City

The Economic and Financial Crimes Commission (EFCC) recently arraigned two individuals in separate high-profile fraud cases involving tens and hundreds of millions of naira, underscoring ongoing efforts to combat financial crimes in Nigeria.

In Lagos, Martins Morakinyo was arraigned on Friday, October 24, 2025, before Justice R.A. Oshodi of the Lagos State High Court sitting in Ikeja. Morakinyo faces a three-count charge related to alleged theft amounting to over N13 million. The charges accuse him, trading under the name Refined Edge Concept, and an accomplice Tope Afolabi (currently at large), of dishonestly converting N13,283,750 belonging to Jawo Technologies and Innovative Solutions Limited. Morakinyo pleaded not guilty. Following the arraignment, the prosecution requested a trial date and the defendant’s remand in a Correctional Centre. Morakinyo was remanded at Kirikiri Maximum Correctional Centre, with the court fixing November 7, 2025, to hear the bail application and setting December 9 and 12, 2025 for trial commencement.

Separately, in Benin-City, the EFCC’s Benin Zonal Directorate is preparing to arraign 58-year-old Rita Izehia Iyoha for an alleged property fraud totaling N446 million. Iyoha and her sister Fidelia Oghenetejiri reportedly defrauded a couple, Frank Obruche Esemudje and his wife, by falsely representing ownership of a property in Effurun, Warri, claimed as an inheritance from their late father. Despite full payment, the complainants could not take possession due to an existing court order restraining the sale. Iyoha reportedly fled to Ghana but was arrested upon returning to Nigeria. She has made useful statements ahead of her arraignment.

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Fidelia Oghenetejiri is already facing prosecution before Justice Hyeladzira Nganjiwa of the Federal High Court in Warri on charges centrered on advance fee fraud and obtaining money by false pretence involving N50 million from the same complainants. She pleaded not guilty and remains in custody.

These recent actions by EFCC highlight the agency’s intensified clampdown on financial crimes, encompassing theft, property fraud, and advance fee fraud across Nigeria. The cases also reflect the judiciary’s role in ensuring due process and the enforcement of anti-corruption laws.