The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a former Managing Director of the Nigerian Railway Corporation (NRC), Fidet Edetanle, over allegations that he laundered $385,000 and N165 million.
The sums, EFCC explained, were transferred to foreign accounts in the Netherlands during and shortly after his tenure at the state-owned rail agency.
The judge, Rahman Oshodi of the Special Offences Court in Lagos, presided over the case.
According to EFCC spokesperson Dele Oyewale in a statement on Tuesday, Mr Edetanle faces a seven counts of abuse of office, money laundering, and unlawful enrichment as a public official.
The alleged offences violate Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011, EFCC said.
In one of the counts, while serving as NRC Managing Director between 29 May and 11 September 2024, Mr Edetanle allegedly transferred $205,000 from his Access Bank domiciliary account to the account of Ehimen Okhiria at ABN AMRO Bank in the Netherlands. EFCC alleged that the funds came from unlawful activities.
In another count, EFCC alleged that after leaving office, between 21 October and 21 November 2024, he moved $40,000 from his Access Bank domiciliary account to Mr Okhiria’s account in the Netherlands, also using proceeds from unlawful activities.
The defendant pleaded not guilty to all the charges.
Following the plea, the prosecution lawyer, Abba Muhammad, who is a Senior Advocate of Nigeria (SAN), requested that the court set a trial date and remand Mr Edetanle in a correctional facility pending trial.
But the defence lawyer, Adebowale Kamoru, told the court he had just received the charges and requested a brief adjournment to prepare a bail application.
After hearing both sides, Mr Oshodi adjourned the case until 13, 14, and 15 May.
The judge ordered that Mr Edetanle be remanded in a maximum-security correctional facility until the bail application is determined.
Background
Mr Edetanle was appointed Managing Director of the NRC in October 2016, having previously served in an acting capacity.
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His roles included providing leadership and strategic direction for the implementation of the NRC master plan.
As an electrical engineer, Mr Edetanle has extensive experience in electrical and mechanical systems, signalling, telecommunication, ICT, and the installation, maintenance, and repair of railway equipment.
Since 1988, he has overseen the design, development, installation, and supervision of numerous projects within the rail transport sector.