EFCC Charges Ex-NRC MD Fidet Edetanl with Money Laundering

Fidet Edetanl, the former Managing Director of the Nigerian Railway Corporation (NRC), was arraigned by the Economic and Financial Crimes Commission (EFCC) on Tuesday at the Ikeja Special Offences Court. He faces seven counts of money laundering and abuse of office related to an alleged $385,000 (approximately N165.5 million) fraud.

The EFCC, represented by lead prosecutor Abba Muhammad SAN, accused Edetanl of abusing his position as Managing Director from 2016 to 2024, violating the Public Procurement Act of 2007 by awarding contracts with the intent to secure undue personal advantage. The charges contravene sections of the Lagos State Criminal Law of 2011, which prescribes penalties for such offenses.

Edetanl pleaded not guilty to the charges. The EFCC requested a trial date and urged the court to remand Edetanl in a correctional facility pending the determination of his bail application, marking the beginning of a closely watched trial concerning financial misconduct in Nigeria's railway sector.