The Economic and Financial Crimes Commission (EFCC) has arraigned three senior officials of the Nigerian Railway Corporation (NRC) before separate courts of the Lagos State High Court sitting in Ikeja over alleged fraud and money laundering in the sum of N2.04 billion.

The defendants are Felix Njoku, a former Director of Finance of the Corporation; Benjamin Chinwuba Iloanusi, Director in the Procurement Department, and Oche Jerry Ogbole, Director, Mechanical.

They were arraigned on separate charges bordering on alleged abuse of office, unlawful enrichment and money laundering.

Njoku was arraigned before Justice Olubunmi Abike-Fadipe of the Special Offences Court, Ikeja, on a 17-count charge involving an alleged fraud of N736,320,807.08.

The anti-graft commission alleged that Njoku, trading under the name FC Njoku and Company, allegedly received N240,940,000 from contractors of the Nigerian Railway Corporation through a bank account after leaving office as Director of Finance between January 2 and December 3, 2024.

The payments were said to be linked to contracts awarded during his tenure.

Iloanusi was arraigned before Justice Ismail Ijelu on a 10-count charge involving an alleged N915,265,472.60 fraud.

Ogbole was arraigned before Justice Mojisola Dada of the Special Offences Court, Ikeja, on a nine-count charge involving an alleged N395,190,600 fraud.

All three defendants pleaded not guilty to their charges.

Following their pleas, prosecution counsel, Abba Muhammad (SAN), requested trial dates and urged the courts to remand the defendants in correctional facilities pending trial, noting that the prosecution intended to respond to aspects of the bail applications on points of law.

Defence counsel, Mordecai Adejo, told the courts that bail applications had been filed and served, urging that the defendants be allowed to continue enjoying the administrative bail earlier granted by the EFCC.

Justice Abike-Fadipe granted Njoku temporary release on health grounds, ordering him to deposit his international passport with the court and report to the EFCC Lagos Directorate 1 office every Monday and Friday.

The case was adjourned to March 10, 2026, for hearing of the bail application and May 11, 12, 18 and 19, 2026, for commencement of trial.

Justice Ijelu remanded Iloanusi in a correctional centre and adjourned the matter to March 3, 2026, for the hearing of his bail application and trial.

Justice Dada allowed Ogbole to continue enjoying the administrative bail earlier granted by the EFCC and adjourned proceedings to April 23, 2026, for hearing.