Court Remands Former NRC Boss Over Alleged $385,000, ₦165.438m Laundering Charges

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, on Tuesday, February 24, 2026, arraigned a former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Okhiria Edetanle, before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, over alleged fraud involving $385,000 and ₦165,438,000.00.

Edetanle was docked on a seven-count charge bordering on alleged abuse of office, money laundering and unlawful enrichment by a public official.

According to the commission, the alleged offences contravene Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.

One of the counts alleged that Edetanle, while serving as Managing Director of the Nigerian Railway Corporation between May 29, 2024 and September 11, 2024, in Lagos within the jurisdiction of the court, committed money laundering by transferring a cumulative sum of $205,000 from his domiciliary account domiciled in Access Bank Plc (account number 0010069159), said to be proceeds of unlawful activities, to the bank account of Ehimen Richard Okhiria domiciled in ABN AMRO Bank, Netherlands, with account number NL38ABNA011257662.

Another count alleged that after leaving office as Managing Director of the NRC, between October 21, 2024 and November 21, 2024, Edetanle transferred a cumulative sum of $40,000 from his domiciliary account in Access Bank Plc to the same ABN AMRO Bank account in the Netherlands, said to be proceeds of unlawful activities.

The defendant pleaded not guilty to all the charges when they were read to him in court.

Following his plea, prosecution counsel, Abba Muhammad, SAN, requested a trial date and urged the court to remand the defendant in a correctional facility pending trial.

Counsel to the defendant, Adebowale Kamoru, however, informed the court that he had just been served with the charge and requested a short adjournment to enable him to file a bail application.

After hearing both parties, Justice Oshodi adjourned the matter till May 13, 14 and 15, 2026 for commencement of trial and ordered that the defendant be remanded in a maximum correctional facility pending the determination of his bail application.