The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on Monday, February 9, 2026, arraigned Otobor Geoffrey Onajefe before the Special Offences Court sitting in Ikeja, Lagos, over an alleged ₦37.44 million fraud.
Onajefe was docked before Justice Mojisola Dada on a two-count charge bordering on conspiracy and stealing. He was arraigned alongside one Philip Otahre Onobrakpe, who is currently at large.
According to the charge, the defendants allegedly conspired in 2023 to defraud Omotayo Olumide Oyebanji and Mr. Ernest Adeii of the sum of ₦37,440,000. The EFCC further alleged that the defendants dishonestly converted the said sum for their personal use.
The defendant pleaded not guilty to both counts when the charges were read to him.
Following the plea, prosecuting counsel, T. J. Banjo, requested that the court fix a trial date and remand the defendant in a correctional facility pending trial.
Defence counsel, S. Danni, informed the court of a bail application dated and filed on February 6, 2026, adding that the application had been duly served on the prosecution. He sought the court’s permission to move the application and requested a short adjournment.
The prosecution opposed the bail application, arguing that although the charge had been filed earlier, the bail application was only served on the prosecution that same morning. The prosecution also indicated its intention to file a reply on points of law and noted the difficulty previously encountered in securing the defendant’s appearance for arraignment.
After hearing submissions from both parties, Justice Dada adjourned the matter to February 26, 2026, for hearing and ordered that the defendant be remanded in a correctional centre pending further proceedings.