Justice Mojisola Dada of the Lagos Special Offences Court has ordered the remand of Otobor Geoffrey Onajefe in a correctional facility over an alleged N37.44 million fraud.
The defendant was arraigned by the Economic and Financial Crimes Commission (EFCC) on a two-count charge of conspiracy and conversion, contrary to Sections 409 and 285 of the Criminal Law of Lagos State, 2011.
The prosecution alleged that Onajefe, alongside one Philip Otahre Onobrakpe (currently at large), conspired in 2023 to defraud Omotayo Olumide Oyebanji and Ernest Adeii of N37,440,000, which they converted to personal use.
Onajefe pleaded not guilty to the charges. Following his plea, prosecution counsel Temitope Banjo urged the court to fix a trial date and requested the defendant's remand. He opposed the bail application, noting it was served only that morning and that the defendant had previously been difficult to locate for arraignment.
Defence counsel Samuel Danni informed the court that the bail application was filed on February 6, 2026, and sought leave to move it, requesting a short adjournment.
Justice Dada adjourned the matter to February 26, 2026, for hearing of the bail application and ordered that the defendant be remanded in a correctional facility pending further proceedings.
The case highlights the EFCC's continued crackdown on high-value financial crimes in Nigeria's commercial capital.
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