EFCC Arraigns Man for Alleged ₦37.4m Fraud in Lagos
Ikeja, Lagos | February 9, 2026
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), on Monday, February 9, 2026, arraigned one Otobor Geoffrey Onajefe before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, over an alleged fraud involving the sum of ₦37,440,000.00.
Onajefe was arraigned on a two-count charge bordering on conspiracy and stealing, alongside one Philip Otahre Onobrakpe, who is currently at large.
Count one of the charge reads:
“Otobor Geoffrey Onajefe and Philip Otahre Onobrakpe (at large), sometime in 2023 at Lagos, within the jurisdiction of this Honourable Court, conspired to defraud Omotayo Olumide Oyebanji and Mr. Ernest Adeii the sum of ₦37,440,000.00 (Thirty-Seven Million, Four Hundred and Forty Thousand Naira).”
Count two reads:
“Otobor Geoffrey Onajefe and Philip Otahre Onobrakpe (at large), sometime in 2023 at Lagos, within the jurisdiction of this Honourable Court, dishonestly converted for their own use the sum of ₦37,440,000.00 (Thirty-Seven Million, Four Hundred and Forty Thousand Naira) belonging to Omotayo Olumide Oyebanji.”
The defendant pleaded “not guilty” to both counts when the charges were read to him.
Following the plea, prosecution counsel, T. J. Banjo, requested a trial date and urged the court to remand the defendant in a correctional facility pending trial.
In response, defence counsel, S. Danni, informed the court of a bail application dated February 6, 2026, and filed the same day. He stated that the application had been served on the prosecution and sought the court’s leave to move the application, while also requesting a short adjournment at the court’s convenience.
The prosecution opposed the bail application, with Banjo telling the court: “My lord, though the charge had been filed earlier, the bail application was only served this morning.” He further informed the court of the prosecution’s intention to file a reply on points of law, while noting the difficulty previously encountered in securing the defendant’s appearance for arraignment.
After hearing arguments from both sides, Justice Dada adjourned the matter till February 26, 2026, for hearing and ordered that the defendant be remanded in a Correctional Centre pending further proceedings.
