Court remands ex-NRC boss Fidet Edetanle over alleged $385,000, N165.5m fraud

The former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Edetanle, has been remanded in a correctional facility by a Special Offences Court sitting in Ikeja, Lagos, over alleged fraud involving $385,000 and N165.5 million.

Edetanle was arraigned on Tuesday, February 24, 2026, by the Economic and Financial Crimes Commission (EFCC) on a seven-count charge bordering on abuse of office, money laundering, and unlawful enrichment.

He pleaded not guilty to the charges.

According to the prosecution, led by EFCC counsel Abba Muhammad (SAN), the defendant allegedly abused his position while serving as NRC managing director between 2016 and 2024. The commission accused him of breaching the Public Procurement Act, 2007, in the award of contracts, allegedly to obtain undue benefits.

The EFCC further told the court that between May 29 and September 11, 2024, Edetanle engaged in money laundering by transferring $205,000 from his domiciliary account in a Nigerian commercial bank to the account of Ehimen Okhiria with ABN AMRO Bank in the Netherlands. The funds, the commission alleged, were proceeds of unlawful activities.

In an additional count, the anti-graft agency alleged that between October 21 and November 21, 2024, the former NRC boss transferred $385,000 and N165.5 million from the same account to the beneficiary’s foreign bank account.

The prosecution maintained that the alleged offences contravened Sections 332(1) and 332(3), 73(1), and 82(c) of the Criminal Law of Lagos State, 2011.

At the proceedings, defence counsel Adebowale Kamoru told the court he had just been served with the charge and sought a brief adjournment before arraignment. The request was declined, and the court directed that the plea be taken.

Following the defendant’s not-guilty plea, the EFCC asked for a trial date and requested that Edetanle be remanded pending trial.

Justice Rahman Oshodi subsequently adjourned the case to May 13, 2026, for the commencement of trial and ordered that the defendant remain in custody pending the hearing and determination of his bail application.