The Economic and Financial Crimes Commission has arraigned three senior officials of the Nigerian Railway Corporation before the Lagos State High Court in Ikeja over alleged fraud, corruption and money laundering totalling about N2.04bn.

The defendants are former Director of Finance, Felix Njoku; serving Director of Procurement, Benjamin Chinwuba Iloanusi; and Director of Mechanical, Oche Jerry Ogbole-Inalegwu. They were produced before different judges of the Special Offences Court on separate charges bordering on abuse of office, unlawful enrichment and corruption.

Njoku appeared before Justice Olubunmi Abike-Fadipe on a 17-count charge involving an alleged N736,320,807.08 fraud. The EFCC alleged that, operating under the name FC Njoku and Company after leaving office as Director of Finance, he received N240,940,000 from NRC contractors through a Zenith Bank account. Prosecutors say the payments were linked to contracts awarded while he was in office and were made “on account of the contracts awarded to the contractors during the discharge of your official duties.”

Njoku pleaded not guilty. Prosecution counsel, Abba Muhammad (SAN), applied for a trial date and asked that he be remanded, indicating the EFCC would respond to his bail application on points of law. Defence counsel, Mordecai Adejo, urged the court to allow Njoku to remain on the administrative bail earlier granted by the commission. Justice Abike-Fadipe granted him temporary release on health grounds, ordered the deposit of his international passport, and directed him to report to the EFCC Lagos Directorate 1 office every Monday and Friday. The court fixed March 10, 2026, for hearing of the bail application and May 11, 12, 18 and 19, 2026, for trial.

Iloanusi was arraigned before Justice Ismail Ijelu on a 10-count charge over an alleged N915,265,472.60 fraud. The EFCC alleged that, as Director of Procurement between January 4 and December 30, 2022, he received N160,930,458.04 from NRC contractors through Polaris Bank accounts, with the funds traced to contracts awarded in the course of his duties. He pleaded not guilty. Justice Ijelu ordered his remand in a correctional centre and adjourned the matter to March 3, 2026, for hearing of his bail application and commencement of trial.

The third defendant, Ogbole-Inalegwu, was arraigned before Justice Mojisola Dada on a nine-count charge involving an alleged N395,190,600 fraud. The EFCC alleged that, while serving as Railway District Manager and trading as Altech Engineering Services between February 12 and October 29, 2019, he received N11,397,500 from China Civil Engineering Construction Company, an NRC contractor, through an Access Bank account in connection with contracts awarded during his tenure. He also pleaded not guilty. Justice Dada allowed him to remain on EFCC administrative bail and adjourned the case till April 23, 2026, for hearing.

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