The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a former Managing Director (MD) of the Nigerian Railway Corporation (NRC), Fidet Okhiria Edetanle, before the Special Offences Court in Ikeja over an alleged fraud involving $385,000 and N165,438,000.

Edetanle was docked before the court, presided over by Justice Rahman Oshodi, on an eight-count charge bordering on money laundering, abuse of office and unlawful enrichment by a public official.

According to the prosecution, 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.

However, the defendant pleaded not guilty to all counts when the charges were read in court.

Addressing the court, counsel for the prosecution, Abba Muhammad (SAN), urged the court to fix a trial date and remand the defendant in custody pending proceedings.

In response, defence counsel, Adebowale Kamoru, informed the court that he had just received the charge and requested a short adjournment to enable him file a bail application on behalf of his client.

Justice Oshodi subsequently ordered that Edetanle be remanded in a facility of the Nigerian Correctional Service and adjourned the case until May 13, 14 and 15, 2026, for trial.

The anti-graft agency alleged that while serving as NRC Managing Director between May 29 and September 11, 2024, the defendant transferred a total of $205,000 from his domiciliary account with Access Bank Plc to an account belonging to Ehimen Richard Okhiria at ABN AMRO Bank in the Netherlands, purportedly representing proceeds of unlawful activities.

The EFCC further alleged that after leaving office, between October 21 and November 21, 2024, Edetanle transferred an additional $40,000 from the same account to the foreign bank account, also said to be proceeds of illegal acts.

The commission maintained that the transactions constitute money laundering offences under the applicable laws. (The Nation)