The Economic and Financial Crimes Commission (EFCC), has arraigned BFI Group Corporation and six individuals before Justice M.S. Idris of the Federal Capital Territory (FCT) High Court, Jabi, Abuja, over an alleged €100 million fraud.
The anti-graft agency stated that the suspects were charged alongside the company on Thursday 29 January 2026.
The suspects, Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward and Emeka Emmanuel Okorie, were docked on a five-count amended charge bordering on conspiracy, fraud and obtaining by false pretence.
At the proceedings, prosecution counsel, Ekele Iheanacho, SAN, informed the court of an amended charge dated 27 January 2026 and urged that it be read to the defendants for their plea. The charge alleges that the defendants conspired between August 2020 and March 2021 to fraudulently induce the Central Bank of Nigeria (CBN) to confer financial benefits on BFI Group Corporation.
One of the counts further alleges that BFI Group Corporation and Reuben M. Jaja attempted to obtain a Certificate of Capital Importation for €100 million by falsely claiming that the funds were paid into a non-existent CBN account.
All the defendants pleaded not guilty to the charges. Following their plea, the prosecution applied for a trial date and time to respond to the bail applications filed by the defence.
However, defence counsel, Chinedu Eze, who represented the first and second defendants, urged the court to grant bail through an oral application, citing relevant provisions of the Administration of Criminal Justice Act (ACJA) 2015. He also requested that the second defendant be granted bail on self-recognition.
The prosecution opposed the oral application, arguing that the defendants were no longer suspects but accused persons before the court, and that bail applications already filed in writing must be properly responded to in the interest of fair hearing.
Justice Idris adjourned the matter to 3 February 2026 for ruling and adoption of bail applications. He ordered that the fourth defendant be remanded in EFCC custody, while the other defendants were remanded at the Kuje Correctional Centre.
