Three NRC Officials Face Court Over Alleged N2 Billion Misappropriation

The Economic and Financial Crimes Commission (EFCC) has arraigned three former officials of the Nigerian Railway Corporation (NRC) over allegations of fraud and money laundering totaling more than N2 billion.

The defendants are Felix Njoku, ex-director of finance; Benjamin Chinwuba Iloanusi, director of procurement; and Oche Jerry Ogbole-Inalegwu, director of mechanical services. All three appeared in separate proceedings at the Special Offences Court in Ikeja, Lagos, and pleaded not guilty.

Njoku’s Arraignment

Njoku faced a 17-count charge alleging fraud of N736.3 million. According to the EFCC, he received N240.9 million from NRC contractors between January and December 2024 through an account for FC Njoku and Company at Zenith Bank, linked to contracts awarded during his tenure as finance director.

The court granted Njoku temporary release on health grounds, requiring him to deposit his passport and report to the EFCC Lagos office every Monday and Friday.

Iloanusi’s Arraignment

Iloanusi was arraigned on 10 counts involving alleged fraud of N915.3 million. The EFCC stated that while serving as director of procurement between January and December 2022, he received N160.9 million from NRC contractors via accounts at Polaris Bank, connected to contracts under his oversight.

The court remanded Iloanusi to a correctional facility and scheduled the hearing of his bail application and the start of trial for March 3.

Ogbole-Inalegwu’s Arraignment

Ogbole-Inalegwu faced nine counts related to N395.2 million. The EFCC alleged that while serving as railway district manager under Altech Engineering Services, he received N11.4 million from China Civil Engineering Construction Company (CCECC) through an Access Bank account in connection with NRC contracts.

He was allowed to remain on administrative bail previously granted by the EFCC, with the next court session scheduled for April 23.

Broader Investigation

The arraignments follow the EFCC’s recent prosecution of Fidet Okhiria, a former NRC managing director, accused of fraud involving $385,000 and N165.4 million.