EFCC ARRAIGNS MAN OVER ALLEGED N75M FRAUD IN LAGOS

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By Aishat Momoh. O.

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, Ikoyi, on Wednesday arraigned Abdullahi Adamu Wada before Justice Olubunmi Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, over an alleged N75,111,600 fraud.

Wada is facing a two-count charge bordering on conspiracy to obtain money by false pretence and obtaining money under false pretence, contrary to Sections 1(2) and 8(a), and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006.

According to the EFCC, the defendant and one Abdulmumeen Aliyu (currently at large) allegedly, on January 4, 2026, induced one Abdulrahman Rabiu to part with N75,111,600 under the pretext that the dollar equivalent of the sum, allegedly valued at 35,430 pounds, would be paid to him — a representation the prosecution said was false.

The defendant pleaded not guilty when the charge was read to him.

Following his plea, prosecution counsel A.O. Mohammed requested a trial date and urged the court to remand the defendant in a correctional centre.

Counsel to the defendant, Fabian Nwaoforji, informed the court that a bail application had been filed and urged the court to grant bail on liberal terms. The prosecution, however, opposed the application, asking the court to impose stringent conditions if bail was to be granted.

In her ruling, Justice Abike-Fadipe granted the defendant bail in the sum of N50 million with one surety in like sum. The surety is required to provide evidence of tax payment to the Lagos State Government and submit the same to the court.

The court also ordered the defendant to report at the EFCC office every Monday morning.

The matter was adjourned till May 7, 2026, for the commencement of trial.