The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned BFI Group Corporation and six individuals before the FCT High Court, Jabi, Abuja.
They are accused of attempting to defraud the Central Bank of Nigeria (CBN) of €100 million through a fake Certificate of Capital Importation.
This was disclosed in a statement posted on the EFCC’s official X account on Thursday.
The defendants, including Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward, and Emeka Emmanuel Okorie, are facing a five-count amended charge covering fraud, conspiracy, and false pretence.
According to the EFCC, between August 12, 2020, and March 2021, the defendants allegedly conspired to mislead the CBN into issuing a Certificate of Capital Importation for €100 million, which was never deposited into a valid account.
When the charges were read in court, all the defendants pleaded not guilty.
Court proceedings and prosecution claims
Count one of the amended charge alleges that the defendants intended to induce the Central Bank of Nigeria (CBN) to confer a benefit on BFI Group Corporation by false pretence, contrary to Sections 8(a) and 1(3) of the Advance Fee Fraud and Other Related Offences Act.
Count two specifically claims that BFI Group Corporation and Reuben M. Jaja attempted to obtain the €100 million Certificate of Capital Importation by falsely claiming the funds were deposited in a non-existent CBN account.
Prosecution counsel, Ekele Iheanacho, SAN, asked the court to read the amended charges to the defendants and requested a trial date, alongside a date to respond to their bail applications.
Defense counsel, Chinedu Eze, applied for bail orally, citing the Administration of Criminal Justice Act (ACJA) and previous judicial precedent.
However, the prosecution objected, arguing that the cited cases were inapplicable, as the defendants had already been formally charged and written bail applications were already before the court.
Justice M.S. Idris adjourned the matter until February 3, 2026, for a ruling on the bail applications and to set the trial schedule. The fourth defendant was remanded in EFCC custody, while the remaining defendants were sent to Kuje Correctional Centre.
The EFCC has continued its fight against financial crimes across Nigeria, targeting corruption, contract fraud, and illicit financial transactions.
Recent actions include recovering N1.234 billion from Sujimoto Luxury Construction Limited for failing to deliver on 22 smart school projects in Enugu State, and the arraignment of Alhaji Mohammed Danjuma over N2.2 billion fraud linked to purported Multi-Sectoral Crisis Recovery Project (MCRP) contracts.
The Commission has also implicated a commercial bank, six fintech companies, and several microfinance banks in N162 billion cryptocurrency-related fraud, citing failures in customer due diligence and anti-money laundering compliance during the 2024/2025 financial year.
