EFCC arraigns former NRC MD over alleged laundering of $385,000 and ₦165.4m in Lagos

The Economic and Financial Crimes Commission (EFCC) has brought former Nigerian Railway Corporation (NRC) Managing Director, Fidet Okhiria Edetanle, before the Special Offences Court in Ikeja, Lagos, over an alleged laundering scheme involving $385,000 and ₦165,438,000.

The defendant was arraigned on Wednesday, February 24, 2026, before Justice Rahman Oshodi by EFCC Lagos Zonal Directorate 1, Ikoyi. Prosecutors filed a seven-count charge that includes abuse of office, unlawful enrichment, and money laundering.

Court filings presented by the anti-graft agency state that the alleged conduct violates Sections 332(1), 332(3), 73(1), and 82(c) of the Criminal Law of Lagos State, 2011.

In one count, the EFCC alleged that while serving as NRC Managing Director between May 29 and September 11, 2024, Edetanle moved a combined $205,000 from his Access Bank domiciliary account to an ABN AMRO Bank account in the Netherlands said to belong to Ehimen Richard Okhiria. Investigators claim those transfers were proceeds of unlawful activity.

Another charge alleges that between October 21 and November 21, 2024, after he had left office, the former NRC chief transferred a further $40,000 from the same Access Bank domiciliary account to the same Netherlands-based account, with the commission again describing the funds as illicit proceeds.

Edetanle pleaded not guilty to all seven counts.

Following the plea, prosecuting counsel Abba Muhammad, SAN, asked the court to schedule trial and remand the defendant in a correctional facility pending trial.

Defence counsel Adebowale Kamoru told the court he had just been served with the charge and requested a short adjournment to prepare and file a bail application for his client.

After listening to both sides, Justice Oshodi adjourned the case to May 13, 14 and 15, 2026, for trial to commence. The court also ordered that the defendant be remanded in a maximum correctional facility pending the hearing and determination of his bail request.