The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, on Thursday, August 20, 2026, arraigned the Chief Executive Officer, CEO, of Brookfield Group Holdings, Olatunji Oluwaseun Adebola,( a.k.a Whitelion) before Justice C. Ngozi of the Federal Capital Territory, FCT High Court sitting in Maitama, Abuja, for an alleged N990,000,000 (Nine Hundred and Ninety Million Naira) fraud.
Adebola,
alongside his company, Brookfield Mining Limited, was arraigned on a four-count
charge bordering on conspiracy, obtaining money by false pretence and dishonest
misappropriation of funds to the tune of N990 million.
His
arraignment followed a petition dated April 6, 2026, filed by a petitioner
through a legal counsel, BB Dan Habu & Co. Solicitors, alleging that the
defendants obtained the funds from its client under the guise of facilitating a
foreign exchange transaction worth $750,000 (Seven Hundred and Fifty Thousand
United States Dollars).
During the
proceedings on Thursday, the defendant pleaded “ not guilty” to the charges
preferred against him.
Following
his plea, prosecution counsel, Oluwakemi Yemi-Makinde, prayed the court
for a trial date and the remand of the defendant in a correctional facility.
The defence counsel, however, informed the court of a pending application
for bail on behalf of the defendant.
Ruling on
the application, Justice Ngozi ordered the defendant to produce two sureties,
one of whom must be a civil servant on Grade Level 15, while the other must be
a civil servant who owns a landed property in Abuja.
Justice
Ngozi, thereafter, adjourned the case till September 15, 2026.
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