Alleged $385,000, N165.4m fraud: Court remands Former NRC MD

Fidet Okhiria Edetanle

The Special Offences Court in Ikeja, Lagos has remanded Fidet Okhiria Edetanle, the former Managing Director of the Nigerian Railway Corporation (NRC) in prison over allegations of money laundering, abuse of office, and unlawful enrichment to the tune of $385,000 and ₦165,438,000.

The Former NRC MD was arranged on Tuesday by operatives of the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).

In a statement released by Dele Oyewale, the Commission’s Head of Media and Publicity, the prosecution detailed how Edetanle allegedly exploited his position to funnel illicit funds.

The charges contend that the defendant violated several provisions of the Criminal Law of Lagos State, 2011, specifically Sections 332(1), 332(3), 73(1), and 82(c).

Central to the indictment are allegations of high-value international transfers. One count specifies that between May and September 2024, while still serving as the NRC chief, Edetanle transferred a cumulative sum of $205,000 from his Access Bank domiciliary account to a Netherlands-based ABN AMRO Bank account belonging to Ehimen Richard Okhiria.

A subsequent count alleges that even after leaving office, Edetanle moved an additional $40,000 to the same overseas account between October and November 2024, funds the EFCC maintains were the proceeds of unlawful activities.

During the proceedings, Edetanle entered a plea of not guilty to all charges. Following the plea, lead prosecution counsel Abba Muhammad, SAN, requested a firm trial date and moved for the defendant to be remanded in custody.

Conversely, the defense counsel, Adebowale Kamoru, noted he had only recently received the formal charges and requested a brief adjournment to prepare and file a bail application.

After considering the arguments from both legal teams, Justice Oshodi adjourned the case to May 13, 14, and 15, 2026, for the commencement of the trial.

The judge ordered that the former NRC be remanded in a maximum correctional facility pending the hearing and determination of his bail application.