The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Okhiria Edetanle, over alleged fraud involving $385,000 and ₦165.4 million.

Edetanle was brought before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on a seven-count charge bordering on abuse of office, money laundering and unlawful enrichment. The charges were filed by the EFCC’s Lagos Zonal Directorate 1, Ikoyi.

According to the prosecution, the alleged offences contravene Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.

In one of the counts, the EFCC alleged that between May 29 and September 11, 2024, while serving as NRC managing director, the defendant transferred $205,000 from his domiciliary account with Access Bank Plc to an account belonging to Ehimen Richard Okhiria at ABN AMRO Bank in the Netherlands. The funds were alleged to be proceeds of unlawful activities.

Another count accused him of transferring an additional $40,000 from the same Access Bank account to the Netherlands-based account between October 21 and November 21, 2024, after leaving office.

The defendant pleaded not guilty to all the charges.

Following the plea, prosecution counsel Abba Muhammad (SAN) asked the court to fix a trial date and remand the defendant in custody pending trial. Defence counsel Adebowale Kamoru, who said he had just been served with the charge, sought a short adjournment to enable him to file a bail application.

Justice Oshodi adjourned the case to May 13, 14 and 15, 2026, for commencement of trial and ordered that the defendant be remanded in a maximum correctional facility pending the hearing and determination of his bail application.