The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on Monday, February 9, 2026, arraigned one Otobor Geoffrey Onajefe before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, over an alleged ₦37,440,000 fraud.
Onajefe was arraigned on a two-count charge bordering on conspiracy and stealing. He was docked alongside one Philip Otahre Onobrakpe, who is currently at large.
According to the EFCC, the defendants allegedly conspired in 2023 to defraud two individuals. The first charge reads: “Otobor Geoffrey Onajefe and Philip Otahre Onobrakpe (at large), sometime in 2023 at Lagos, within the jurisdiction of this Honourable Court, conspired to defraud Omotayo Olumide Oyebanji and Mr. Ernest Adeii the sum of ₦37,440,000.00 (Thirty-Seven Million, Four Hundred and Forty Thousand Naira).”
The second charge alleged that the defendants dishonestly converted the same sum belonging to Oyebanji for their personal use. It reads: “Otobor Geoffrey Onajefe and Philip Otahre Onobrakpe (at large), sometime in 2023 at Lagos, within the jurisdiction of this Honourable Court, dishonestly converted for their own use the sum of ₦37,440,000.00 (Thirty-Seven Million, Four Hundred and Forty Thousand Naira) belonging to Omotayo Olumide Oyebanji.”
The defendant pleaded not guilty to the charges when they were read in court.
Following the plea, the prosecution counsel, T. J. Banjo, requested the court to fix a trial date and remand the defendant in a correctional facility pending the commencement of trial.
In response, defence counsel, S. Danni, informed the court of a bail application dated and filed on February 6, 2026. He stated that the application had been served on the prosecution and sought the court’s permission to move the application, while also requesting a short adjournment.
However, Banjo opposed the bail application, stating, “My lord, though the charge had been filed earlier, the bail application was only served that morning.” He further noted that the prosecution intended to file a reply on points of law and highlighted previous difficulties encountered in securing the defendant’s appearance for arraignment.
After hearing arguments from both parties, Justice Dada adjourned the case to February 26, 2026, for hearing and ordered that the defendant be remanded in a correctional centre pending further proceedings.
