EFCC Arraigns BFI Group, Six Others Over Alleged €100m Fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned BFI Group Corporation and six individuals before the Federal Capital Territory (FCT) High Court, Jabi, Abuja, over an alleged €100 million fraud.
The defendants were docked on Thursday, January 29, 2026, before Justice M.S. Idris on a five-count amended charge bordering on conspiracy, fraud and obtaining by false pretence.
Those standing trial alongside the company are Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward and Emeka Emmanuel Okorie.
At the proceedings, prosecution counsel, Ekele Iheanacho, SAN, informed the court of an amended charge dated January 27, 2026, and requested that it be read to the defendants for them to take their pleas. All the defendants pleaded not guilty to the charges.
According to the EFCC, the defendants allegedly conspired between August 12, 2020, and March 2021 in Abuja to fraudulently induce the Central Bank of Nigeria (CBN) to grant financial benefits to BFI Group Corporation.
One of the charges stated that the defendants conspired “with intent to defraud, to induce the Central Bank of Nigeria to confer benefit on BFI Group Corporation by false pretence,” an offence contrary to Sections 8(a) and 1(3) 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 (CCI) for €100 million by falsely claiming the funds were deposited into a non-existent CBN account, contrary to Section 8(b) of the Act.
Following the plea, the prosecution applied for a trial date and sought time to respond to the defendants’ bail applications already filed before the court.
Counsel to the first and second defendants, Chinedu Eze, made an oral application for bail on self-recognition, citing provisions of the Administration of Criminal Justice Act (ACJA) 2015 and relevant case law. He also urged the court to consider the status of the second defendant, whom he described as a traditional ruler.
However, the prosecution opposed the application, arguing that the oral request was improper since written bail applications had already been filed and that the cited legal authorities were inapplicable at this stage of the trial.
Justice Idris adjourned the matter to February 3, 2026, for ruling on the bail applications and further proceedings. He ordered that the fourth defendant be remanded at the EFCC custody, while the other defendants were remanded at the Kuje Correctional Centre pending the court’s decision.
