EFCC Arraigns Former NRC MD Over Alleged $385,000, ₦165.4m Money Laundering
By Naija Enquirer Staff
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 alleged $385,000 and ₦165,438,000.00 fraud.
Edetanle was arraigned on a seven-count charge bordering on alleged abuse of office, money laundering, and unlawful enrichment by a public official.
The alleged offences are said to contravene Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.
Details of the Charges
One of the counts alleges that while serving as Managing Director of the Nigerian Railway Corporation between May 29, 2024 and September 11, 2024, the defendant transferred a cumulative sum of $205,000 from his domiciliary account with Access Bank Plc to the bank account of Ehimen Richard Okhiria domiciled in ABN AMRO Bank, Netherlands, being proceeds of unlawful activities.
Another count alleges that after leaving office, between October 21, 2024 and November 21, 2024, he transferred an additional $40,000 from his Access Bank domiciliary account to the same Netherlands-based account, also described as proceeds of unlawful activities.
Plea and Court Proceedings
The defendant pleaded not guilty to all charges preferred against him.
Following his plea, the prosecution counsel, Abba Muhammad, SAN, requested a trial date and urged the court to remand the defendant in a correctional facility pending trial.
Defence counsel, Adebowale Kamoru, informed the court that he had just received the charge and requested a short adjournment to enable him to file a bail application.
After hearing both parties, Justice Oshodi adjourned the matter until May 13, 14, and 15, 2026 for commencement of trial and ordered that the defendant be remanded in a maximum correctional facility pending the determination of his bail application.
