EFCC Arraigns Alleged Serial Fraudster, Titilayo Eboh Over N1.8bn Forex Fraud in Lagos

Lagos, Nigeria – March 4, 2026

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, on Wednesday, March 4, 2026, arraigned an alleged serial fraudster, Titilayo Eboh, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, over an alleged N1,871,220,000 (One Billion, Eight Hundred and Seventy-One Million, Two Hundred and Twenty Thousand Naira) fraud.

Eboh was arraigned alongside Chayomi Aluminium Limited and one Abubakar Funtua, who is currently at large, on a three-count charge bordering on conspiracy to obtain money by false pretence, stealing, and obtaining money by false pretence.

According to the EFCC, the defendants allegedly defrauded two businessmen, Mr. Olamayowa Abdulwasiu Olabisi and Mr. Adekanmi Adedire of Himark Intertrades Limited, under the guise of a foreign exchange transaction.

Count one of the charge states that Eboh, Chayomi Aluminium Limited, and Abubakar Funtua (at large), between December 2, 2020 and January 25, 2021 in Lagos, within the jurisdiction of the court, allegedly conspired to obtain the cumulative sum of N1,871,220,000 from the complainants. The prosecution alleged that the defendants falsely claimed they had the United States dollars equivalent of the sum to exchange at the rate of N420 per dollar, a representation they knew to be false.

Count two further alleges that Eboh and Chayomi Aluminium Limited, within the same period and location, obtained the same amount from the complainants under the same false pretence of providing the dollar equivalent at the stated exchange rate.

The defendant pleaded “not guilty” to all the charges when they were read to her.

Following the plea, prosecution counsel, Nnaemeka Omenwa, requested a trial date and urged the court to remand the defendant in the appropriate correctional facility pending trial.

Omenwa also informed the court that the defence had sent a bail application relating to another case involving the defendant before Justice Rahman Oshodi to his email. He stated that he required clarification from the defence counsel to determine which application to respond to before filing his reaction.

Responding, defence counsel Emefo Etudo told the court that he was not a party to the matter before Justice Oshodi. He requested one hour to produce a hard copy of the defendant’s bail application for the court.

Etudo also appealed to the court to allocate multiple trial dates and urged that the bail application be given an earlier hearing date, in line with discussions with the prosecution.

Justice Mojisola Dada subsequently adjourned the hearing of the bail application to March 24, 2026, and fixed May 4, 2026 for the commencement of trial.