The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), on Monday, February 9, 2026, arraigned one Otobor Geoffrey Onajefe on a two-count charge bordering an alleged conspiracy and stealing to the tune of ₦37,440,000.00 (Thirty-Seven Million, Four Hundred and Forty Thousand Naira) before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.

Count one reads: “Otobor Geoffrey Onajefe and Philip Otahre Onobrakpe (at large), sometime in 2023 at Lagos, within the jurisdiction of this Honourable Court, conspired to defraud Omotayo Olumide Oyebanji and Mr. Ernest Adeii  the sum of ₦37,440,000.00 (Thirty-Seven Million, Four Hundred and Forty Thousand Naira).”

Count two reads: “ Otobor Geoffrey Onajefe and Philip Otahre Onobrakpe (at large), sometime in 2023 at Lagos, within the jurisdiction of this Honourable Court, dishonestly converted for their own use the sum of ₦37,440,000.00 (Thirty-Seven Million, Four Hundred and Forty Thousand Naira) belonging to Omotayo Olumide Oyebanji.”

The defendant pleaded “not guilty” to the charges when they were read to him.

Following his plea, the prosecution counsel, T. J. Banjo, asked the court for a trial date and also prayed that the defendant be remanded in a correctional facility.

The defence counsel, S.Danni, told the court about a bail application dated February 6, 2026 and filed on the same day.

He also told the court that the application had been served on the prosecution.

He, therefore, sought the court’s permission to move the application and also requested a short adjournment date at the court’s convenience.

The prosecution counsel, however, opposed the bail application, saying,  “ My lord, though the charge had been filed earlier, the bail application was only served that morning.”

He also told the court that the prosecution would file a reply on points of law, while noting the difficulty previously encountered in securing the defendant’s appearance for his arraignment.

After listening to both parties, Justice Dada adjourned the matter till February 26, 2026, for hearing and ordered that the defendant be remanded in a Correctional Centre pending further proceedings.