N2.04bn Fraud Trial: Court reserves ruling on bail request of former official of railway agency
The Special Offences Court in Ikeja, Lagos, on Monday fixed 2 June for ruling on the bail application filed by a former Director of Finance at the Nigerian Railway Corporation (NRC), Felix Njoku, who is standing trial over alleged N2.04 billion fraud and money laundering offences.
The Special Offences Court in Ikeja, Lagos, on Monday fixed 2 June for ruling on the bail application filed by a former Director of Finance at the Nigerian Railway Corporation (NRC), Felix Njoku, who is standing trial over alleged N2.04 billion fraud and money laundering offences.
The trial judge, Olubunmi Abike-Fadipe, fixed the date for ruling after hearing arguments from both the defence and the prosecution, the Economic and Financial Crimes Commission (EFCC).
Mr Njoku is one of three senior NRC officials facing prosecution over allegations of fraud, abuse of office and money laundering involving about N2.04 billion. He is separately standing trial on 17 counts of unlawful enrichment involving N736.3 million.
At Monday’s proceedings, defence lawyer Mordecai Adejo reminded the court of his client’s bail application filed on 3 February.
He urged the court to allow Mr Njoku to continue on the interim bail earlier granted on health grounds, noting that the defendant had complied with all conditions, including regular reporting to the EFCC.
But prosecution lawyer, Abba Muhammed, who is a Senior Advocate of Nigeria (SAN), opposed the application. He argued that the defendant posed a flight risk and could interfere with witnesses if released.
He told the court that some of the prosecution witnesses were staff members of the NRC, where Mr Njoku previously served as Director of Finance, adding that releasing him at this stage could compromise the trial.
After hearing both sides, Mrs Abike-Fadipe fixed 2 June for ruling on the bail application.
The court thereafter proceeded with the trial, with the prosecution presenting its first witness, Clement Ngbolu, a compliance officer with Zenith Bank Plc.
The witness told the court that he had worked with the bank for about 16 years and was responsible for responding to requests from law enforcement agencies.
He said Zenith Bank received a request from the EFCC in June 2025 seeking details of the account of FC Njoku and Company Ltd. According to him, the bank retrieved the records, verified them and sent the documents to the commission.
The prosecution tendered the EFCC’s request letter dated 13 June, 2025, alongside account documents and statements. The defence did not object. The court admitted them as Exhibits P2, P2A, P2B and P2C.
The witness confirmed that the account had two signatories and identified several inflows recorded in different transactions.
The judge adjourned the matter until Tuesday for continuation of the trial, while she fixed 2 June for ruling on the bail application.
The trial is part of a broader prosecution involving senior officials of the NRC, the agency which exclusively oversees the expansion and management of Nigeria’s rail transportation system.
On 25 February, the EFCC arraigned Mr Njoku alongside two other NRC directors before different judges of the Lagos State High Court in Ikeja over allegations of fraud, abuse of office and money laundering involving about N2.04 billion.
The anti-graft agency alleged that the funds were linked to contracts awarded during their tenure.
Mr Njoku was specifically accused of receiving about N240.9 million through a company account linked to NRC contractors after leaving office as Director of Finance.
Mrs Abike-Fadipe had earlier granted him temporary release on health grounds, ordering him to deposit his passport and report to the EFCC Lagos Directorate 1 office every Mondays and Fridays pending the determination of his bail application.
