By Seun Ibiyemi
The Special Offences Court sitting in Ikeja, Lagos, on Monday, May 11, 2026, reserved ruling till June 2, 2026, on the bail application filed by a defendant in the ongoing ₦2.04 billion money laundering case involving officials of the Nigerian Railway Corporation.
Justice Olubunmi Abike-Fadipe reserved the ruling after hearing arguments from both the defence and prosecution in the trial involving Felix Njoku, a former Director of Finance of the corporation.
Counsel to Njoku, Mordecai Adejo, urged the court to allow his client to continue enjoying an earlier interim bail, arguing that he had complied with all conditions, including regular reporting to the Economic and Financial Crimes Commission and had not attempted to evade trial.
However, the prosecution counsel, Abba Muhammed (SAN), opposed the application, arguing that there were indications the defendant might abscond if granted bail.
He also raised concerns that Njoku could interfere with witnesses, some of whom are staff of the Nigerian Railway Corporation.
After considering submissions from both parties, Justice Abike-Fadipe fixed June 2, 2026, for ruling on the bail application.
At the resumed hearing, the prosecution also called its first witness, Clement Ngbolu, a compliance officer with Zenith Bank Plc, who testified on financial records linked to FC Njoku and Company Ltd.
Ngbolu told the court that the bank received a request from the EFCC in June 2025 seeking account details, which were duly processed and forwarded.
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He also confirmed that the account had multiple inflows and identified the signatories as Njoku Judith Chidima and Njoku Nyaku.
Documents tendered by the prosecution, including EFCC correspondence and account opening records, were admitted as exhibits without objection from the defence.
The court subsequently adjourned the matter till May 12, 2026, for continuation of trial.
The EFCC had earlier on February 25, 2026, arraigned four senior officials of the Nigerian Railway Corporation on charges bordering on fraud and money laundering involving over ₦2.04 billion.
The defendants include Felix Njoku, former Director of Finance; Fidet Okhiria Edetanle, former Managing Director; Benjamin Chinwuba Iloanusi, Director in the Procurement Department; and Oche Jerry Ogbole-Inalegwu, Director of Mechanical Engineering.
Njoku, who faces a 17-count charge involving alleged unlawful enrichment of over ₦736 million, pleaded not guilty.
The court had previously granted him temporary bail on health grounds, ordering him to surrender his passport and continue reporting to the EFCC pending determination of his formal bail application.
