The Economic and Financial Crimes Commission (EFCC), has on Tuesday arraigned a former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Edetanle, before the Ikeja Special Offences Court over alleged money laundering involving $385,000 and N165.5 million.
Edetanle is facing a seven-count charge bordering on abuse of office, unlawful enrichment and money laundering, offences the anti-graft agency said were committed while he served as managing director of the NRC between 2016 and 2024. He pleaded not guilty to all the charges.
Leading the prosecution, EFCC counsel, Mr Abba Muhammad (SAN), told the court that the defendant abused his office by violating the Public Procurement Act, 2007, in the award of contracts, allegedly to secure undue personal benefit.
The prosecution further alleged that between May 29 and September 11, 2024, Edetanle engaged in acts of money laundering while still in office. According to the EFCC, he transferred $205,000 from his domiciliary account with Access Bank Plc, funds said to be proceeds of unlawful activities, to the bank account of Mr Ehimen Okhiria domiciled with ABN AMRO Bank in the Netherlands.
In another count, the commission alleged that between October 21 and November 21, 2024, the defendant transferred a cumulative sum of $385,000 and N165.5 million from the same domiciliary account to Okhiria’s account with ABN AMRO Bank, Netherlands.
The EFCC said the alleged offences contravened Sections 332(1) and 332(3), 73(1), and 82(c) of the Criminal Law of Lagos State, 2011, and urged the court to fix a trial date and remand the defendant in a correctional facility pending trial.
Earlier, defence counsel, Mr Adebowale Kamoru, told the court that he had just been served with the charge and requested a short adjournment. The court refused the application and ordered that the defendant’s plea be taken. Kamoru later sought a brief adjournment to enable him file a bail application.
Justice Rahman Oshodi adjourned the case until May 13 for the commencement of trial and ordered that Edetanle be remanded in a maximum correctional facility pending the determination of his bail application.