The Economic and Financial Crimes Commission (EFCC) on Thursday, January 29, 2026, arraigned BFI Group Corporation and six individuals before the Federal Capital Territory High Court, Jabi, Abuja, over an alleged €100 million fraud.
Those arraigned alongside the company are Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward and Emeka Emmanuel Okorie. They appeared before Justice M.S. Idris on a five-count amended charge bordering on conspiracy, fraud and obtaining by false pretence.
At the proceedings, prosecution counsel, Ekele Iheanacho, SAN, informed the court of an amended charge dated and filed on January 27, 2026, and requested that it be read to the defendants for their pleas.
In one of the counts, the EFCC alleged that the defendants, between August 12, 2020 and March 2021 in Abuja, conspired to fraudulently induce the Central Bank of Nigeria (CBN) to confer financial benefits on BFI Group Corporation through false pretences, contrary to provisions of the Advance Fee Fraud and Other Related Offences Act.
Another count alleged that BFI Group Corporation and Reuben M. Jaja attempted to obtain a Certificate of Capital Importation for €100 million by falsely claiming that the funds had been paid into a non-existent euro account purportedly maintained by the CBN.
All the defendants pleaded not guilty to the charges.
Following their pleas, the prosecution sought a trial date and time to respond to the bail applications already filed by the defendants.
However, counsel to the first and second defendants, Chinedu Eze, urged the court to entertain an oral bail application, citing provisions of the Administration of Criminal Justice Act (ACJA), 2015, and judicial authorities. He also asked that the second defendant be granted bail on self-recognition.
The prosecution opposed the application, arguing that the authorities cited by the defence were inapplicable, as the defendants were no longer suspects but persons standing trial. Iheanacho maintained that bail applications must be considered in line with the relevant provisions of the ACJA and insisted that the written applications already filed should be addressed accordingly.
Justice Idris adjourned the matter to February 3, 2026, for ruling and adoption of bail applications. He ordered that the fourth defendant be remanded at the EFCC facility, while the remaining defendants were remanded at the Kuje Correctional Centre pending further proceedings.
