The Economic and Financial Crimes Commission (EFCC) has arraigned a former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Edetanle, over alleged money laundering involving $385,000 and N165.5 million.
Edetanle was brought before the Ikeja Special Offences Court on Tuesday, where he is facing a seven-count charge bordering on abuse of office, unlawful enrichment, and money laundering.
He pleaded not guilty to all the charges, according to the News Agency of Nigeria.
Leading the prosecution, EFCC counsel Abba Muhammad (SAN) told the court that the defendant allegedly abused his position while serving as managing director of the NRC between 2016 and 2024.
According to the anti-graft agency, Edetanle violated provisions of the Public Procurement Act, 2007 in the award of contracts, allegedly with the intention of securing undue personal advantage.
The EFCC said the alleged acts contravened Sections 332(1) and 332(3), 73(1), and 82(c) of the Criminal Law of Lagos State, 2011, which prescribe penalties for abuse of office, unlawful enrichment, and money laundering by public officials.
Earlier reports by Nairametrics stated that the EFCC also arraigned the Chief Executive Officer of Onome Global Market Resources Limited, Osabohein Ologbose and his wife, Hope Onome Oghelemu, over an alleged N740 million investment fraud.
The arraignment follows ongoing investigations into alleged money laundering activities linked to Mompha and his associates, with transactions said to have occurred between 2013 and 2018.
In light of Edetanle’s arraignment, the prosecution requested a trial date and urged the court to remand the defendant to a correctional facility pending the determination of the case.
The court also ordered that the defendant be remanded in a maximum correctional facility pending the hearing and determination of his bail application, marking the start of what is expected to be a closely watched trial involving alleged financial misconduct at one of Nigeria’s key transport agencies.