EFCC arraigns ex-NRC MD Fidet Edetanle over alleged $385,000, N165m fraud

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, on Wednesday, February 24, 2026, arraigned a former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Okhiria Edetanle, before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, over an alleged fraud involving $385,000 and N165,438,000.

Edetanle was docked on a seven-count charge bordering on alleged abuse of office, money laundering and unlawful enrichment by a public official.

According to the EFCC, the offences contravene Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.

One of the counts alleged that Edetanle, while serving as Managing Director of the NRC between May 29, 2024 and September 11, 2024, transferred a cumulative sum of $205,000 from his domiciliary account with Access Bank Plc to an account belonging to Ehimen Richard Okhiria with ABN AMRO Bank in the Netherlands.

The prosecution alleged that the funds constituted proceeds of unlawful activities.

READ ALSO: EFCC arraigns couple, firms over alleged N740m investment fraud

Another count stated that after leaving office, between October 21, 2024 and November 21, 2024, the defendant allegedly transferred an additional $40,000 from his Access Bank domiciliary account to the same ABN AMRO account, also said to be proceeds of unlawful activities.

When the charges were read to him in court, Edetanle pleaded “not guilty” to all seven counts.

Following his plea, prosecution counsel Abba Muhammad, SAN, asked the court to fix a trial date and requested that the defendant be remanded in a correctional facility pending the commencement of trial.

Defence counsel Adebowale Kamoru, however, informed the court that he had only just been served with the charge and sought a short adjournment to enable him to file a bail application on behalf of his client.

After hearing both parties, Justice Oshodi adjourned the matter until May 13, 14 and 15, 2026, for the commencement of trial.

The court also ordered that the defendant be remanded in a maximum correctional facility pending the hearing and determination of his bail application.

The case marks one of the latest high-profile prosecutions by the EFCC as the anti-graft agency continues its efforts to tackle alleged financial crimes involving public officials.