EFCC Arraigns Man Over Alleged ₦37.4 Million Fraud in Lagos

The Economic and Financial Crimes Commission (EFCC) has arraigned one Otobor Geoffrey Onajefe before the Lagos State Special Offences Court sitting in Ikeja over an alleged ₦37.44 million fraud.

Onajefe was arraigned on Monday, February 9, 2026, by the Lagos Zonal Directorate 1 of the EFCC before Justice Mojisola Dada on a two-count charge bordering on conspiracy and stealing.

According to the charge, Onajefe allegedly conspired with one Philip Otahre Onobrakpe, who is currently at large, sometime in 2023 in Lagos, to defraud Omotayo Olumide Oyebanji and Mr. Ernest Adeii of the sum of ₦37,440,000.

The EFCC further alleged that the defendant dishonestly converted the said sum for his personal use, an offence contrary to Nigerian law.

When the charges were read to him, Onajefe pleaded not guilty.

Following his plea, the prosecution counsel, T. J. Banjo, requested a trial date and urged the court to remand the defendant in a correctional facility. However, defence counsel S. Danni informed the court of a bail application dated February 6, 2026, which he said had been served on the prosecution, and sought a short adjournment to move the application.

The prosecution opposed the bail request, noting that the application was only served that morning and informing the court of plans to file a reply on points of law. The prosecution also cited previous difficulties encountered in securing the defendant’s appearance in court.

After hearing arguments from both sides, Justice Mojisola Dada adjourned the case to February 26, 2026, for hearing and ordered that the defendant be remanded in a Correctional Centre pending further proceedings.

The EFCC reaffirmed its commitment to tackling financial crimes and ensuring accountability in line with its mandate.