The Economic and Financial Crimes Commission (EFCC) has arraigned BFI Group Corporation and six individuals before the Federal High Court in Abuja over an alleged €100 million fraud involving the Central Bank of Nigeria (CBN).According to an EFCC statement signed by its Head of Media and Publicity, Dele Oyewale, the defendants were brought before Justice M.S. Idris on a five-count amended charge bordering on conspiracy, fraud and obtaining by false pretence.
The defendants are Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward and Emeka Emmanuel Okorie. Prosecuting counsel Ekele Iheanacho (SAN) informed the court that the amended charge, filed on January 27, 2026, alleged that the defendants conspired between August 2020 and March 2021 to induce the CBN to grant financial benefit to BFI Group Corporation through false representations.
One count alleges that the defendants attempted to obtain a Certificate of Capital Importation for €100 million by claiming the funds were lodged in a CBN account that investigators say does not exist.All defendants pleaded not guilty.
Defence counsel applied for bail, including an oral request for self-recognition bail for one of the defendants. The prosecution opposed the oral application, arguing that written bail applications were already pending before the court.
Justice Idris adjourned the case to February 3, 2026, for a ruling on the bail applications. One defendant was remanded in EFCC custody, while the others were remanded at Kuje Correctional Centre.
