Ex-NRC Boss Remanded Over Alleged $385k Fraud

​The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has officially arraigned Fidet Okhiria Edetanle, the former Managing Director of the Nigerian Railway Corporation (NRC), on a seven-count charge involving alleged money laundering and abuse of office.

​Appearing before Justice Rahman Oshodi at the Special Offences Court in Ikeja on Wednesday, Edetanle faced allegations of laundering funds totaling $385,000 and ₦165,438,000. The prosecution claims these sums were acquired through unlawful enrichment during and shortly after his tenure as the head of the NRC.

​The Charges and Allegations

​According to the charge sheet, the EFCC tracked several suspicious transactions linked to the defendant. One specific count alleges that between May and September 2024, Edetanle transferred $205,000 from a domestic Access Bank account to an ABN AMRO Bank account in the Netherlands belonging to one Ehimen Richard Okhiria.

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​Further investigations reportedly revealed another transfer of $40,000 to the same Dutch account in late 2024, conducted after Edetanle had already exited his position at the corporation. The anti-graft agency maintains these actions contravene various sections of the Criminal Law of Lagos State, 2011, specifically targeting public officials who use their office for personal gain.

​Court Proceedings and Remand

​Edetanle pleaded “not guilty” to all seven counts. While the EFCC’s lead counsel, Abba Muhammad, SAN, pushed for an immediate trial date and requested the defendant be remanded in custody, the defense lead, Adebowale Kamoru, sought an adjournment. Kamoru noted that the defense had only recently received the formal charges and needed time to prepare a robust bail application.

​Justice Oshodi has adjourned the case to May 13, 14, and 15, 2026, for the commencement of the trial. In the interim, the judge ordered that Edetanle be remanded at a maximum-security correctional facility until his bail application is heard and determined.