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The Economic and Financial Crimes Commission EFCC has arraigned two suspects before a Federal High Court sitting in Benin City over an alleged ₦143 million fraud, as part of what the commission described as an intensified campaign against economic and financial crimes.
The defendants, whose identities were presented in court filings, were brought before the court on multiple-count charges bordering on obtaining money under false pretences, conspiracy, and other related financial offences. EFCC prosecutors alleged that the accused individuals orchestrated schemes that led to the unlawful acquisition of funds amounting to ₦143 million.
According to the prosecution, the alleged offences contravene provisions of Nigeria’s Advance Fee Fraud and Other Fraud Related Offences Act. The EFCC told the court that preliminary investigations indicated the suspects engaged in transactions designed to mislead victims and disguise the origin of the funds.
During the proceedings, both defendants pleaded not guilty to the charges.
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Counsel to the accused persons urged the court to grant bail on liberal terms, arguing that the defendants were willing to stand trial and posed no flight risk. The prosecution opposed the application, citing the seriousness of the allegations and the need to ensure the defendants’ availability for further hearings.
After listening to arguments from both sides, the presiding judge adjourned the case to a later date for the hearing of the bail applications and commencement of trial. The court also ordered that the suspects be remanded in a correctional facility pending the determination of their bail.
The courtroom session attracted attention from legal observers and members of the public, reflecting growing interest in the EFCC’s enforcement activities across the country.
In a statement following the arraignment, the EFCC reiterated its resolve to combat financial crimes, describing the case as one of several ongoing prosecutions aimed at deterring fraudulent practices.
“This arraignment underscores the commission’s commitment to holding individuals accountable for economic and financial crimes,” an EFCC spokesperson said. “We will continue to pursue cases diligently in accordance with the law.”
Anti-corruption advocates welcomed the development, noting that consistent prosecution of financial crimes is essential to strengthening public confidence and protecting citizens from fraudulent schemes.
Legal analysts, however, emphasised that the defendants remain innocent until proven guilty by the court. They highlighted the importance of fair trial standards and adherence to due process throughout the proceedings.
As the matter moves to the next phase, stakeholders say the case will test both the EFCC’s prosecutorial efforts and the judiciary’s role in ensuring justice is served transparently and impartially.
