HomeNewsEFCC Arraigns Three NRC Top Brass Over Alleged ₦2.04bn Fraud

EFCC Arraigns Three NRC Top Brass Over Alleged ₦2.04bn Fraud

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The Economic and Financial Crimes Commission (EFCC) on Wednesday hauled three senior officials of the Nigerian Railway Corporation (NRC) before the Lagos State High Court in Ikeja, marking a significant escalation in the government’s crackdown on public sector corruption.

The defendants, a former finance chief and two sitting directors, face separate charges involving alleged abuse of office, money laundering, and unlawful enrichment totalling over ₦2.04 billion.

The high-profile trio includes Felix Njoku, the former Director of Finance of the NRC; Benjamin Chinwuba Iloanusi, the current Director of the Procurement Department; and Oche Jerry Ogbole-Inalegwu, the current Director of Mechanical.

The EFCC alleges that these officials used their positions to funnel massive sums from NRC contractors into private accounts, often under the guise of business entities they controlled.

Appearing before Justice Olubunmi Abike-Fadipe, Felix Njoku faced a 17-count charge involving an alleged ₦736.3 million fraud.

The prosecution specifically highlighted payments received after his retirement. One count stated: “That you, Felix Njoku, transacting under the name of FC Njoku and Company, after leaving office… received the cumulative sum of ₦240,940,000.00 from contractors of the Nigerian Railway Corporation… on account of the contracts awarded to the contractors during the discharge of your official duties.”

In a parallel proceeding, Benjamin Iloanusi was arraigned before Justice Ismail Ijelu on a 10-count charge involving ₦915.2 million. The court heard how Iloanusi allegedly utilised personal accounts at Polaris Bank to receive over ₦160 million from contractors while serving as the Director of Procurement.

The third defendant, Oche Jerry Ogbole-Inalegwu, appeared before Justice Mojisola Dada on a nine-count charge involving an alleged ₦395.1 million fraud. He is accused of receiving kickbacks from major international firms while serving as the Railway District Manager. One specific count alleged:

“That you, Oche Jerry Ogbole-Inalegwu, while serving as the Railway District Manager… received the cumulative sum of ₦11,397,500.00 from China Civil Engineering Construction Company (CCECC)… through the bank account of Altech Engineering Services.”

All three defendants pleaded “not guilty” to the charges, which the EFCC states contravene various sections of the Criminal Law of Lagos State, 2011. Following the pleas, prosecution counsel Abba Muhammad, SAN, pushed for the defendants to be remanded in correctional facilities.

“We request trial dates and urge the court to remand the defendants pending trial, as we intend to respond to certain paragraphs in the bail applications,” Muhammad stated during the proceedings.

In response, defence counsel Mordecai Adejo pleaded with the court to allow his clients to remain on the administrative bail previously granted by the EFCC, citing that they had cooperated with investigations thus far.

The three judges delivered varying outcomes for the defendants. Justice Abike-Fadipe granted Felix Njoku temporary release on health grounds, provided he reports to the EFCC twice weekly and surrenders his international passport. His trial is scheduled to begin on May 11, 2026.

Conversely, Justice Ismail Ijelu ordered Benjamin Iloanusi to be remanded in a Correctional Centre, with his bail hearing and trial set for March 3, 2026. Meanwhile, Justice Dada permitted Oche Ogbole-Inalegwu to continue his administrative bail, adjourning his case to April 23, 2026, for further hearing.

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