NRC Staff Charged with N2.04bn Money Laundering

The Economic and Financial Crimes Commission (EFCC) arraigned three staff members of the Nigerian Railway Corporation (NRC) for alleged money laundering totaling N2.04 billion. Felix Njoku, the former Director of Finance, was charged with 17 counts of fraud, involving N736,320,807.08, for allegedly receiving N240,940,000.00 from a contractor during his tenure from January 2, 2024, to December 3, 2024.

Benjamin Chinwuba Iloanusi, the current Director of Procurement, faced 10 counts involving N915,265,472.60, accused of receiving N160,930,458.04 from another contractor between January 4, 2022, and December 30, 2022. Och Jerri Ogbol Inalegwu, the Railway District Manager, was charged with 9 counts involving N395,190,600.00, allegedly receiving N11,397,500.00 from a contractor between February 12, 2019, and October 29, 2019.

All defendants pleaded not guilty, and the prosecution requested a trial date while the court remanded them.