The Economic and Financial Crimes Commission (EFCC) has arraigned a Lagos-based defendant, Andrew Odekina, over an alleged fraud involving nearly ₦10 million.
Odekina was brought before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, March 23, 2026, by the Lagos Zonal Directorate 1 of the EFCC, Ikoyi.
He is facing a one-count charge bordering on the retention of proceeds of criminal conduct, an offence said to contravene Section 17(a) and (b) of the EFCC (Establishment) Act, 2004.
According to the charge, Odekina, alongside accomplices still at large, allegedly received and retained the sum of ₦9,873,215.00 in his account with First City Monument Bank (FCMB) in 2025.
The prosecution further alleged that the funds formed part of over ₦3.09 billion fraudulently obtained from customer accounts domiciled in the bank through unauthorised access and manipulations of banking applications.
The charge stated that the defendant knowingly retained control of the funds, which were proceeds of fraudulent activities. Upon arraignment, Odekina pleaded not guilty to the charge.
Following his plea, prosecution counsel, Babatunde Sonoiki, asked the court to fix a trial date and remand the defendant in a correctional facility pending the commencement of trial. The defendant was not represented by legal counsel during the proceedings.
In her ruling, Justice Dada adjourned the case until May 11, 2026, for trial and ordered that the defendant be remanded in a correctional centre pending the determination of the case.
