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EFCC Arraigns BFI Group, Six Others Over Alleged €100 Million CBN Capital Importation Fraud

The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned BFI Group Corporation and six individuals before the Federal Capital Territory (FCT) High Court sitting in Jabi, Abuja, over an alleged attempt to defraud the Central Bank of Nigeria (CBN) of €100 million through a fake Certificate of Capital Importation (CCI).

The development was disclosed in a statement posted on the EFCC’s official X account on Thursday.

According to the anti-graft agency, the defendants are accused of conspiring to mislead the CBN into issuing a Certificate of Capital Importation for funds that were never deposited into a valid account.

Who is involved

The defendants listed in the case are:

BFI Group Corporation
Reuben M. Jaja
Uzor Chidi Jerry
David Femi James
Imeobong Jumbo Udom
Adeola Edward
Emeka Emmanuel Okorie

They are facing a five-count amended charge bordering on conspiracy, fraud, and obtaining by false pretence.

What the EFCC is alleging

The EFCC said that between August 12, 2020, and March 2021, the defendants allegedly conspired to induce the CBN to issue a Certificate of Capital Importation for €100 million, even though the funds were never lodged in any legitimate or verifiable CBN account.

Count one of the amended charge alleges that the defendants intended to induce the CBN to confer a benefit on BFI Group Corporation by false pretence, contrary to Sections 8(a) and 1(3) of the Advance Fee Fraud and Other Related Offences Act.

Count two specifically alleges that BFI Group Corporation and Reuben M. Jaja attempted to obtain the €100 million CCI by falsely claiming that the funds had been deposited in a non-existent CBN account.

The EFCC said the alleged actions were aimed at using the fake CCI to validate a capital inflow that never actually occurred.

Court proceedings

When the amended charges were read in court, all the defendants pleaded not guilty.

Prosecution counsel, Ekele Iheanacho, SAN, asked the court to fix a trial date and also requested a date to hear and determine the bail applications.

Defence counsel, Chinedu Eze, applied orally for bail on behalf of the defendants, citing provisions of the Administration of Criminal Justice Act (ACJA) and relying on previous judicial precedents.

However, the prosecution objected, arguing that the cited authorities were inapplicable because the defendants had already been formally charged and that written bail applications were already before the court.

Justice M.S. Idris adjourned the matter until February 3, 2026, for ruling on the bail applications and to set a trial schedule.

The court ordered that the fourth defendant be remanded in EFCC custody, while the remaining defendants were remanded at the Kuje Correctional Centre pending the bail ruling.

Why this matters

Certificates of Capital Importation are critical documents used to confirm the inflow of foreign capital into Nigeria and to guarantee investors the right to repatriate funds and profits.

Any abuse of the CCI process undermines investor confidence, weakens foreign exchange monitoring, and exposes the financial system to fraud and regulatory risks.

The EFCC said the case forms part of its broader efforts to clamp down on financial crimes, including contract fraud, illicit capital flows, and misrepresentation in Nigeria’s financial and foreign exchange systems.

The Commission has in recent months intensified prosecutions involving large-scale fraud, signalling tougher enforcement to protect the integrity of Nigeria’s financial architecture.

EFCC Witness Alleges Ngige Awarded N80 Million NSITF Contract Outside Bidding

A prosecution witness in the ongoing trial of former Anambra State governor and ex-Minister of Labour, Dr Chris Ngige, has told a Federal Capital Territory High Court in Gwarimpa, Abuja, that an N80 million contract for the Nigeria Social Insurance Trust Fund (NSITF) Makurdi office was awarded to a company that did not participate in the bidding process.

The allegation was disclosed in a statement posted on Wednesday by the Economic and Financial Crimes Commission (EFCC) on its official X (formerly Twitter) account.

The witness, Mr Pedro Torwuese Chellen, an entrepreneur and project manager of Imanil Haq Nigeria Limited, told the court that his company had competed for the contract but later discovered that the winning firm allegedly did not submit a bid.

What EFCC is saying

According to the EFCC, Mr Chellen testified that the contract was awarded under the supervision of Dr Ngige during his tenure as Minister of Labour, who oversaw the NSITF.

After failing to get clarification from NSITF management, Mr Chellen said he escalated the matter to the Bureau of Public Procurement (BPP). The BPP, according to his testimony, confirmed that the company that eventually won the contract did not take part in the procurement process.

“The First Prosecution Witness, PW1 Mr Pedro Torwuese Chellen… said that the company that won the contract for renovation of Nigeria Social Insurance Trust Fund (NSITF), Makurdi office at the cost of N80 million did not take part in the contract bidding,” the EFCC statement said in part.

Mr Chellen also told the court that the contract description was later changed from “Renovation of Makurdi Office” to “Construction of Makurdi Office,” and that the contract sum was subsequently increased from N80 million to N120 million.

He said his statements were taken by the EFCC in 2023 as part of a broader investigation into alleged irregularities in NSITF procurement practices.

Petition and investigation

During cross-examination, the witness reportedly told the court that his petition was directed at the NSITF management board rather than specific individuals.

He also said he was not part of any board meetings but learned through media reports that the board was later reconstituted.

The court has adjourned the matter to January 29, 2026, for continuation of the trial.

Backstory

The EFCC arraigned Dr Ngige in December 2025 over multiple corruption-related allegations linked to his supervision of the NSITF while serving as Minister of Labour and Employment.

He is facing an eight-count charge marked FCT/HC/CR/726/2025, filed on December 9, 2025, by EFCC prosecutors led by Sylvanus Tahir, SAN.

The anti-graft agency alleges that between September 2015 and May 2023, Ngige gave undue advantage to companies linked to associates and approved contracts worth hundreds of millions of naira to firms including Cezimo Nigeria Limited, Zitacom Nigeria Limited, Jeff & Xris Limited, Olde English Consolidated Limited, and Shale Atlantic Intercontinental Services.

Ngige is also accused of receiving financial gifts from contractors while in office, including alleged transfers of N38.65 million, N55 million, and N26.13 million through entities linked to him.

The EFCC says the alleged actions violate Sections 17(a) and 19 of the Corrupt Practices and Other Related Offences Act 2000.

What you should know

The EFCC opposed Dr Ngige’s bail application after his arraignment, citing concerns over compliance with previous administrative bail conditions.

According to the commission, Ngige allegedly failed to meet certain bail requirements, including the return of his international passport after travelling abroad for medical reasons.

The trial is ongoing, and the allegations remain subject to judicial determination.

Lagos Court Convicts AAC Consulting for N30.5 Million Theft from Chevron Contract Staff

The Economic and Financial Crimes Commission (EFCC) has secured the conviction of AAC Consulting Limited for the theft of N30.56 million belonging to contract staff of Chevron Nigeria Limited.

The conviction was handed down on Friday, January 23, 2026, by Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, according to a statement released by the anti-graft agency.

The case stems from offences committed in 2013 and centres on the unlawful conversion of funds meant for Chevron’s contract staff.

What the EFCC said

The EFCC disclosed that AAC Consulting Limited was arraigned on January 12, 2026, by its Lagos Zonal Directorate 1 on an amended one-count charge of stealing, contrary to Section 285(1) of the Criminal Code, Cap 34, Vol. 44, Laws of Lagos State, 2011.

According to the commission, the company was accused of dishonestly converting funds belonging to Chevron contract staff for its own use.

The charge reads:
“That AAC Consulting Limited, on or about 27th April 2013, at Lagos, within the Ikeja Judicial Division, dishonestly converted to its own use the aggregate sum of N30,564,635.81 (Thirty Million, Five Hundred and Sixty-Four Thousand, Six Hundred and Thirty-Five Naira, Eighty-One Kobo), property of contract staff of Chevron Nigeria Limited.”

Backstory

The EFCC said the trial began on June 5, 2023, when AAC Consulting Limited and its Managing Director, Anthony Adeoye, were arraigned on a 50-count charge bordering on stealing and issuance of dud cheques.

Both defendants initially pleaded not guilty, prompting a full trial. During the proceedings, the prosecution, led by I. O. Daramola, called two witnesses and tendered several documents, all of which were admitted as exhibits by the court.

According to the EFCC, the defendants later repaid the full amount involved to the petitioner in December 2023. Following the repayment, they changed their plea from not guilty to guilty.

Subsequently, the charge was amended, and AAC Consulting Limited pleaded guilty to the one-count charge of stealing.

Court ruling

At the resumed proceedings on Friday, Justice Oshodi found AAC Consulting Limited guilty and convicted the company accordingly.

The court ordered the firm to pay a N5 million fine within 14 days, warning that failure to comply would result in the winding up of the company.

What you should know

In recent years, Nigerian courts have increasingly convicted corporate entities prosecuted by the EFCC for financial crimes.

A Federal High Court in Ikoyi convicted FARM360 Limited and MCBHADMOS Trans-Atlantic Trade Limited for illegally collecting N80 million from investors through unlicensed collective investment schemes.
Quintessential Investment Company Limited was also convicted for illegal capital market operations involving over N1.2 billion in investor funds.
Similarly, a Lagos State High Court convicted Partnership Securities Limited and its chairman, Victor Ogiemwonyi, for stealing nearly N953.6 million and $80,000, ordering restitution to the affected investor.
In 2025, an Oyo State High Court convicted Detorrid Heritage Investment Limited and its principal for more than N1 billion in investment fraud, resulting in a multi-year prison sentence.

The conviction of AAC Consulting Limited reinforces the EFCC’s stance that corporate entities involved in financial crimes will be held accountable under Nigerian law.

EFCC Recovers N1.23 Billion from Sujimoto Over Enugu Smart Schools Project

The Economic and Financial Crimes Commission (EFCC) has recovered N1.234 billion from Sujimoto Luxury Construction Limited and returned the funds to the Enugu State Government.

The recovery was confirmed in a statement issued by the anti-graft agency via its official X account on Wednesday, January 21, 2026.

The action followed a formal petition submitted by the Enugu State Government after Sujimoto failed to execute a contract for the construction of 22 smart schools, despite receiving advance payments totaling more than N2.28 billion.

What the EFCC is saying

According to the commission, it commenced investigations after receiving a request from the Enugu State Government in February 2025, alleging that the construction firm diverted funds meant for the smart schools project.

The petition accused the company, led by Olasijibomi Ogundele, of nonperformance, breach of contract, and misapplication of public funds, which the state government said pointed to an intent to defraud.

EFCC operatives from the Special Task Fraud Section of the Enugu Zonal Directorate investigated the matter and successfully recovered N1,234,350,000 on behalf of the state.

“In line with its unwavering commitment to the fight against corruption, economic and financial crimes, and the recovery of misappropriated public funds, the EFCC on Wednesday, January 21, 2026, handed over the sum of N1,234,350,000 to the Enugu State Government. The funds were recovered from Sujimoto Luxury Construction Limited for failure to honour its agreement with the state over the construction of 22 smart schools,” the commission stated.

More insights

The EFCC reiterated that contractors entrusted with public funds must comply strictly with the Public Procurement Act and uphold the principles of transparency, accountability, and integrity.

The commission added that it would continue to pursue individuals and companies involved in the diversion or mismanagement of public resources, regardless of their status.

Officials of the Enugu State Government, who received the recovered funds, commended the EFCC for its professionalism and thorough investigation, noting that the recovery would help mitigate financial losses suffered by the state.

What you should know

In September 2025, the EFCC declared Ogundele wanted over alleged diversion of funds and money laundering linked to the N5.7 billion 22 Smart Green Schools project.

The businessman later released a video denying any wrongdoing, blaming project delays on rising construction costs, inflation, manpower shortages, security concerns, and broader economic challenges. He maintained that engineers had been mobilised to project sites and that he remained committed to completing the schools.

Following continued delays, the Enugu State Government formally petitioned the EFCC, alleging that Ogundele disappeared after receiving about 50% of the contract sum, leaving the projects largely abandoned.

Subsequent investigations revealed minimal work at most sites, with several locations lacking proper excavation and structural compliance. A joint inspection carried out by officials of the Enugu Ministry of Works and the EFCC in May 2025 reportedly confirmed the lack of substantial progress across multiple project locations.

The recovery of N1.234 billion represents a partial return of funds linked to the stalled smart schools project and underscores ongoing efforts by the EFCC to recover misappropriated public resources.