Nigeria’s anti-graft agency has intensified its crackdown on alleged financial misconduct in public institutions with the arraignment of a former Managing Director of the Nigerian Railway Corporation, Fidet Okhiria Edetanle, over alleged money laundering involving $385,000 and ₦165.438 million.
The former rail chief was on Wednesday brought before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
Edetanle is facing a seven-count charge bordering on alleged abuse of office, unlawful enrichment, and money laundering, contrary to provisions of the Criminal Law of Lagos State, 2011.
Alleged Overseas Transfers
Central to the prosecution’s case are allegations that the defendant moved large sums of money through personal bank accounts during and after his tenure as Managing Director of the NRC.
According to one of the counts, Edetanle allegedly transferred a cumulative sum of $205,000 from his domiciliary account with Access Bank Plc to an account held with ABN AMRO Bank in the Netherlands, said to belong to Ehimen Richard Okhiria. The EFCC alleges that the funds constituted proceeds of unlawful activities.
In a separate charge, the anti-graft agency further accused the former MD of transferring an additional $40,000 to the same foreign account after leaving office, describing the transaction as part of alleged money laundering activities carried out between October and November 2024.
Plea and Court Proceedings
When the charges were read to him, Edetanle pleaded not guilty to all counts.
Prosecution counsel, Abba Muhammad, SAN, urged the court to fix a trial date and remand the defendant in a correctional facility pending trial.
However, defence counsel Adebowale Kamoru told the court that he had only just been served with the charge and requested a short adjournment to enable him to file a bail application on behalf of his client.
Ruling on the submissions, Justice Oshodi adjourned the matter to May 13, 14, and 15, 2026, for the commencement of trial. The court also ordered that the defendant be remanded in a maximum correctional facility pending the hearing and determination of his bail application.
The case is expected to test the EFCC’s resolve in pursuing high-ranking former public officials over alleged financial crimes, particularly within key federal agencies.
Economic and Financial Crimes Commission Opens High-Profile Prosecution of Ex-Nigerian Railway Corporation Boss Over Alleged Multi-Million Dollar Transfers
