The Lagos State High Court sitting has remanded three workers of the Nigerian Railway Corporation (NRC), Felix Njoku, Benjamin Iloanusi and Oche Ogbole-Inalegwu, over an alleged laundering to the tune of N2 billion.
The Economic and Financial Crimes Commission, EFCC, while arraigning the trio put on a 17-count charge trial bordering on money laundering, abuse of office and unlawful enrichment by public officials disclosed that the first accused, Njoku, who is an erstwhile Director of Finance of the NRC, after leaving office between January 2 and December 3, 2024, allegedly received ₦240,940,000 from the company’s contractors through the bank account of FC Njoku and Company, domiciled in Zenith Bank Plc, in connection with contracts awarded during his tenure.
Second defendant, Iloanusi, presently a Director in the Procurement Department of the NRC, was said to have involved in an alleged fraud of ₦915,265,472.60. while the third, Ogbole-Inalegwu, presently Director of the company’s Mechanical department is facing trial over an alleged ₦395,190,600 fraud.
Njoku’s charge reads: “That you, Felix Njoku transacting under the name of FC Njoku and Company, after leaving office as the Director Finance, Nigerian Railway Corporation, between 2nd January, 2024 and 3rd December, 2024 in Lagos within the jurisdiction of this Honorable Court, committed an offence, to wit; unlawful enrichment by receiving the cumulative sum of Two Hundred and Forty Million, Nine Hundred and Forty Thousand Naira (N240,940,000.00) from contractors of the Nigerian Railway Corporation through the bank account of FC Njoku and Company domiciled in Zenith Bank Plc with account number: 1014247906, on account of the contracts awarded to the contractors during the discharge of your official duties”.
Iloamusi’s charge reads: “That you Benjamin Chinwuba Iloanusi while serving as the Director Procurement Department, Nigerian Railway Corporation, between 4th January, 2022 and 30th December, 2022 in Lagos within the jurisdiction of this Honorable Court, committed an offence, to wit; corruption by receiving the cumulative sum of One Hundred and Sixty Million, Nine Hundred and Thirty Thousand, Four Hundred and Fifty Eight Naira, Four Kobo (N160,930,458.04) from contractors of the Nigerian Railway Corporation through your bank account domiciled in Polaris Bank Plc with account numbers: 1060170530 and 1767841197 respectively, on account of the contracts awarded to the contractors during the discharge of your official duties”.
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.
In court on Wednesday, the defendants pleaded not guilty to all charges when they were read to them. Earlier, prosecution counsel, Abba Muhammad, requested trial dates and urged the courts to remand the defendants in correctional facilities pending trial, noting that the prosecution intended to respond to certain paragraphs in the bail applications on points of law.
The defence counsel, led by Mordecai Adejo, informed the courts that bail applications had been filed and served, urging that the defendants continue to enjoy the administrative bail previously granted by the EFCC. Consequently, Justice Olubunmi Abike-Fadipe granted Felix 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.
Njoku’s trial and bail hearing were adjourned to March 10, 2026, while the trial itself is scheduled for May 11, 12, 18, and 19, 2026.
Justice Ismail Ijelu remanded Benjamin Chinwuba Iloanusi in a correctional facility and adjourned the hearing of his bail application and trial commencement to March 3, 2026.
Meanwhile, Justice Dada allowed Ogbole-Inalegwu to continue enjoying his administrative bail and adjourned his case to April 23, 2026, for the hearing.
