EFCC Arraigns Ex-NRC MD for Alleged $385,000, ₦165.438m Money Laundering in Lagos

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC). Ikoyi, Lagos, 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 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.
 
One of the counts reads:
“That you, Fidet Okhiria Edetanle, while serving as the Managing Director of the Nigerian Railway Corporation, between May 29, 2024 and September 11, 2024, in Lagos, within the jurisdiction of this Honourable Court, committed an offence, to wit: money laundering, by transferring the cumulative sum of Two Hundred and Five Thousand United States Dollars ($205,000.00) from your domiciliary account domiciled in Access Bank Plc, account number 0010069159, being proceeds of unlawful activities, to the bank account of Ehimen Richard Okhiria domiciled in ABN AMRO Bank, Netherlands, with account number NL38ABNA011257662.”
 
Another count reads:
“You, Fidet Okhiria Edetanle, after leaving office as Managing Director of the Nigerian Railway Corporation, between October 21, 2024 and November 21, 2024, in Lagos within the jurisdiction of this Honourable Court, committed an offence, to wit: money laundering, by transferring the cumulative sum of Forty Thousand United States Dollars ($40,000.00) from your domiciliary account in Access Bank Plc to the bank account of Ehimen Richard Okhiria domiciled in ABN AMRO Bank, Netherlands, being proceeds of unlawful activities.”
 
The defendant pleaded “not guilty” to all the 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.
 
However, the 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 listening to both parties, Justice Oshodi adjourned the matter till 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.