EFCC Charges Brookfield CEO Olatunji Adebola with Fraud

Olatunji Oluwaseun Adebola, also known as Whitelion, the Chief Executive Officer of Brookfield Group Holdings, was arraigned by the Economic and Financial Crimes Commission (EFCC) on August 20, 2026, at the Federal Capital Territory High Court in Maitama, Abuja. He faces a four-count charge of conspiracy, obtaining money by false pretence, and dishonest misappropriation of funds, related to an alleged ₦990 million foreign exchange fraud.

The charges stem from a petition submitted on April 6, 2026, through the law firm of BB Dan Habu & Co. Solicitors, claiming that Adebola and Brookfield Mining Limited obtained ₦990 million under the pretense of facilitating a foreign exchange transaction valued at $750,000.

Adebola pleaded not guilty to the charges. Following his plea, EFCC counsel Oluwakemi Yemi-Makinde requested a trial date and for Adebola to be remanded in custody.

However, the defense counsel indicated that a bail application had been filed, which Justice Ngozi granted, requiring two sureties: one a civil servant on Grade Level 15 and the other a civil servant with landed property in Abuja. The case was adjourned until September 15, 2026, for further proceedings.