EFCC arraignment of NRC officials over alleged N2.04 billion fraud
If you thought the drama in Nigeria’s public sector was limited to the oil and gas “big boys,” then you haven’t been paying attention to the tracks of the Nigerian Railway Corporation (NRC).
The Economic and Financial Crimes Commission (EFCC) has just “blown the whistle” on what appears to be a massive derailment of public funds. On a busy Wednesday in Ikeja, the anti-graft agency docked three “senior men” of the corporation before the Lagos State High Court. We are not talking about small change here; we are talking about a staggering N2.04 billion that has allegedly gone “missing in transit.
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” As a professional editor who has seen many of these high-profile cases come and go, I can tell you that this particular “train wreck” of a scandal is sending shockwaves through the civil service. It’s a classic case of what happens when those trusted to manage our national infrastructure decide to “carry the engine” for themselves.
Breakdown of the N2.04 billion “national cake” sharing formula
The details of the charges are enough to make any taxpayer “vex.” The EFCC didn’t just lump everyone together; they broke down the alleged “wuru-wuru” person by person. First on the list is Felix Njoku, a former Director of Finance, who is facing a 17-count charge involving over N736 million.
Then there is Benjamin Chinwuba Iloanusi, the current Director of Procurement, whose 10-count charge hits a massive N915 million. Finally, Oche Jerry Ogbole-Inalegwu, the Director of Mechanical, is answering for N395 million.
The “real koko” of the allegation is that these officials allegedly used their offices to receive “kickbacks” from contractors through accounts linked to their own companies. It’s the same old story of public servants doubling as “private businessmen” to corner the national cake.
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When you see figures like N2.04 billion flying around while our rail services are still struggling to reach “world-class” status, you realize the level of “shege” the average Nigerian is being shown.
Remand and temporary freedom in the Lagos court drama
The courtroom scene was a mix of “trials and tribulations” for the three defendants. While they all pleaded “not guilty”—which is the standard “senior man” move in these parts—their immediate fates were very different.
Felix Njoku managed to secure a temporary release on health grounds, though he had to drop his international passport and must report to the EFCC twice a week. Ogbole-Inalegwu was also allowed to continue on his administrative bail.
However, for Benjamin Iloanusi, the story was different; the judge ordered his remand in a correctional centre until his bail hearing. It was a sobering moment that reminded everyone that even in the “big league,” the law can still “bite.
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” The judges—Abike-Fadipe, Ijelu, and Dada—have made it clear that this isn’t going to be a “business as usual” trial.
Why this NRC scandal is a “red signal” for public accountability.
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At the end of the day, this isn’t just about three men in a dock; it’s about the integrity of our institutions. For a country trying to diversify its economy and move people and goods efficiently by rail, having the “engine room” of the NRC under investigation for fraud is a massive “red signal.
” As an editor, my take is that this case must be the “full stop” to the era of impunity in our corporations. We cannot be borrowing billions from international lenders to build railways only for the funds to end up in private Zenith or Access Bank accounts.
The 2026 legal calendar for these trials is already looking packed, and Nigerians will be watching closely to see if justice will truly be served or if this will just be another “long thing” that eventually fades away. It’s time to move from “alleged fraud” to actual accountability if we ever want our national pride to stay on track.
