Alleged N37.4m fraud: Court orders remand of suspect

The Economic and Financial Crimes Commission (EFCC) on Monday brought Otobor Geoffrey Onajefe before the Lagos State Special Offences Court, Ikeja, over his alleged involvement in a ₦37.4 million fraud.

Onajefe appeared before the court presided over by Justice Mojisola Dada, facing a two-count charge of conspiracy and stealing.

The prosecution alleged that the defendant, alongside one Philip Otahre Onobrakpe (who is said to be at large), defrauded Omotayo Olumide Oyebanji and Ernest Adeii of ₦37,440,000 during the course of 2023.

According to the charge sheet, Onajefe’s actions were in violation of Sections 409 and 285 of the Criminal Law of Lagos State, 2011.

The counts stated that the defendant dishonestly converted the said sum for personal use, funds that belonged to the complainant, Mr Oyebanji.

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But when the charges were read, the defendant pleaded not guilty. This prompted the counsel for the EFCC, T. J. Banjo to request a trial date and asked the court to remand the defendant in a correctional facility.

Banjo specifically opposed the defence’s attempt to secure bail immediately. He informed the court that while the case had been filed for some time, the defence only served the bail application that morning.

The prosecutor further noted that Onajefe had been difficult to locate before his eventual arraignment, suggesting a potential flight risk.

The lawyer for the defence, S. Danni acknowledged that the bail application, dated February 6, was served late to the prosecution but requested the court’s indulgence to move the application.

However, Justice Dada ordered that the defendant be remanded in a correctional centre.

The judge adjourned the hearing to February 26, 2026, for the hearing of the bail application and commencement of proceedings.