By Our Correspondent
The Economic and Financial Crimes Commission (EFCC) has arraigned two businessmen alongside their companies before a Lagos court over an alleged fraud involving ₦756 million and $550,000.
The defendants were brought before the Special Offences Court sitting in Ikeja, Lagos, where the EFCC accused them of obtaining large sums of money through fraudulent means.
According to the anti-graft agency, the alleged offences involved financial transactions carried out under false pretences, resulting in significant losses running into hundreds of millions of naira and hundreds of thousands of dollars.
The EFCC stated that the charges form part of its ongoing efforts to curb economic and financial crimes, particularly those involving corporate entities and high-value transactions. The commission emphasised that such offences undermine public trust and negatively impact Nigeria’s economic stability.
During the arraignment, the defendants pleaded not guilty to the charges. Following their pleas, the court adjourned the case to a later date to allow for the commencement of trial and consideration of bail applications.
The case adds to a growing list of high-profile fraud prosecutions being handled by the EFCC in Lagos, reinforcing the agency’s resolve to pursue individuals and organisations accused of financial misconduct to ensure accountability and justice under the law.
