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EFCC has arraigned Otobor Onajefe over alleged N37.4m fraud in Lagos Court.
The Genius Media Nigeria reports that the Economic and Financial Crimes Commission (EFCC) has arraigned Otobor Onajefe before an Ikeja Special Offences Court over alleged fraud involving N37.4 million.
The arraignment followed investigations triggered by what the anti-graft agency described as credible intelligence on suspicious financial transactions. Onajefe is accused of defrauding individuals and converting the funds to his personal use.
According to the EFCC, its investigation revealed that Onajefe and a co-accused allegedly exploited trust to persuade two victims, identified as Mr Omotayo Oyebanji and Mr Ernest Adeii, to part with the sum of nearly N37.4 million under false pretences.
The commission said its probe involved intelligence gathering and a review of financial records, which uncovered irregularities that led to the filing of formal charges.
Onajefe was arraigned on a two-count charge of conspiracy and stealing, contrary to Sections 409 and 285 of the Criminal Law of Lagos State, 2011. One of the counts alleges that he conspired with an associate, Philip Onobrakpe, who is currently at large, in 2023 in Lagos to defraud the two men of N37.4 million. The second count accuses him of converting the money to his personal use.
The EFCC said the defendant pleaded not guilty to the charges.
Court proceedings
EFCC counsel, Mr Temitope Banjo, urged the court to fix a trial date and requested that Onajefe be remanded in a correctional facility. He opposed the bail application, noting that it was only served on the prosecution on the morning of the arraignment and that the defendant had previously been difficult to locate.
In response, defence counsel, Mr Samuel Danni, told the court that the bail application dated February 6 had been duly filed and served earlier that day. He sought leave to move the application and requested a short adjournment.
Justice Mojisola Dada adjourned the matter to February 26 for the hearing of the bail application and ordered that Onajefe be remanded in a correctional centre pending further proceedings.
TGM Reports that the EFCC has continued to intensify its crackdown on financial crimes, securing convictions in several high-profile cases. In one instance, a former banker, Goni Yilkan, was sentenced to eight years’ imprisonment over a N120.5 million job scam involving false employment promises.
In another case, Victor Ogiemwonyi and Partnership Securities Limited were convicted for diverting proceeds from a share sale worth nearly N1 billion and $80,000, with the court ordering restitution and fines.
The commission has also pursued cross-border fraud cases, including the arraignment of a suspect accused of defrauding American victims of more than $525,000 through a fake investment scheme.
