EFCC Arraigns Otobor Onajefe Over N37.4m Fraud in Lagos Court

The Economic and Financial Crimes Commission (EFCC) arraigned Otobor Onajefe in a Lagos court for an alleged N37.4 million fraud scheme. Onajefe is accused of defrauding individuals by exploiting their trust and converting funds for personal use.

The investigation revealed suspicious financial transactions leading to formal charges. Onajefe faces two counts of conspiracy, theft, and fraud, with a co-accused, Philip Onobrakp, still at large.

The EFCC prosecutor urged the court to fix a trial date while the defense sought bail. The case reflects the EFCC's ongoing crackdown on financial crimes, with recent convictions like Goni Yilkan and Victor Ogiemwonyi for similar offenses.

The matter was adjourned for a bail hearing, with Onajefe remanded in custody pending further proceedings.