EFCC has arraigned alleged fraudster Titilayo Eboh before Justice Mojisola Dada in Lagos over a ₦1.87bn foreign exchange scam. Bail hearing set for March 24, trial begins May 4, 2026
EFCC Arraigns Alleged Serial Fraudster Over ₦1.87bn Forex Scam in Lagos
The Economic and Financial Crimes Commission (EFCC) has arraigned alleged serial fraudster Titilayo Eboh before Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos, over a staggering ₦1.87 billion foreign exchange fraud.
Eboh was charged alongside Chayomi Aluminium Limited and Abubakar Funtua (currently at large) on a three‑count indictment bordering on conspiracy, stealing, and obtaining money by false pretence.
According to EFCC prosecutors, the defendants allegedly defrauded businessmen Olamayowa Abdulwasiu Olabisi and Adekanmi Adedire of Himark Intertrades Limited, under the guise of providing dollar equivalents for foreign exchange transactions.
The prosecution stated that between December 2, 2020, and January 25, 2021, the defendants promised to exchange funds at ₦420 per dollar, a representation investigators say was false.
When the charges were read, Eboh pleaded not guilty.
Prosecution counsel Nnaemeka Omenwa urged the court to remand the defendant pending trial, noting: “The defence has filed a bail application linked to another case, but clarification is required before we respond.”
Defence counsel Emefo Etudo countered, requesting time to provide a hard copy of the bail application and pushing for multiple trial dates.
Justice Dada adjourned the bail hearing to March 24, 2026, and fixed May 4, 2026 for trial commencement. Read More
