Court Remands Man as EFCC Files ₦37.4m Fraud Charges

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has arraigned one Otobor Geoffrey Onajefe before the Special Offences Court sitting in Ikeja, Lagos, over an alleged ₦37.44 million fraud.
Onajefe was arraigned on Monday, February 9, 2026, before Justice Mojisola Dada, on a two-count charge bordering on conspiracy and stealing.
According to the EFCC, the defendant allegedly conspired with one Philip Otahre Onobrakpe, who is currently at large, to defraud Omotayo Olumide Oyebanji and Mr. Ernest Adeii of the sum of ₦37,440,000 sometime in 2023.
One of the charges stated that the defendant and his accomplice dishonestly converted the said sum, belonging to Oyebanji, to their personal use.
The defendant, however, pleaded not guilty to both charges when they were read to him.
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.
In response, defence counsel, S. Danni, informed the court of a bail application dated and filed on February 6, 2026, which he said had been served on the prosecution. He sought the court’s permission to move the application and requested a short adjournment.
The prosecution opposed the bail application, arguing that it was only served on the same morning of the arraignment. Counsel also disclosed that the EFCC had earlier faced challenges in securing the defendant’s appearance in court and indicated plans to file a reply on points of law.
After hearing arguments from both parties, Justice Dada adjourned the matter to February 26, 2026, for hearing of the bail application and ordered that the defendant be remanded in a Correctional Centre pending further proceedings.