EFCC Charges NRC Directors with ₦2 Billion Fraud

The Economic and Financial Crimes Commission (EFCC) arraigned three senior officials of the Nigerian Railway Corporation (NRC) at the Lagos State High Court in Ikeja for alleged fraud amounting to ₦2.04 billion. The defendants include Felix Njoku, the former director of finance, Benjamin Chinwuba Iloanusi, the current director of procurement, and Jerri Ogbol Inalegwu, the director of mechanical services.

Njoku faced 17 counts of fraud, involving ₦736,320,807.08, linked to funds paid to an account associated with his company at Zenith Bank PLC during his tenure. He pleaded not guilty and was granted temporary release on health grounds.

Iloanusi was charged with 10 counts involving ₦915,265,472.60, with allegations of payments received in a Polar Bank PLC account. He also pleaded not guilty and was remanded in custody.

Ogbol Inalegwu faced nine counts involving ₦395,190,600, linked to funds received in an Access Bank PLC account. He too pleaded not guilty and was allowed to continue enjoying administrative bail.

The cases have been adjourned to various dates in 2026 for further proceedings.