The Economic and Financial Crimes Commission (EFCC) has arraigned an alleged serial fraudster, Titilayo Eboh, before Mojisola Dada, a judge of the Lagos State Special Offences Court sitting in Ikeja, over an alleged ₦1.87 billion foreign exchange fraud.
Eboh was arraigned on Wednesday by the EFCC’s Lagos Zonal Directorate 2, Ikoyi, alongside Chayomi Aluminium Limited and Abubakar Funtua, who is currently at large.
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The defendants are facing a three-count charge bordering on conspiracy, stealing and obtaining money by false pretence.
According to the anti-graft agency, the defendants allegedly defrauded two businessmen of ₦1,871,220,000 under the guise of supplying foreign exchange.
The charge stated:
“Titilayo Eboh, Chayomi Aluminium Limited and one Abubakar Funtua (at large), between December 2, 2020 and January 25, 2021, at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, conspired amongst yourselves and obtained the cumulative sum of ₦1,871,220,000 from Mr. Olamayowa Abdulwasiu Olabisi and Mr. Adekanmi Adedire of Himark Intertrades Limited under the false pretence that you had the United States Dollars equivalent of the said sum to exchange for them at the rate of ₦420 per dollar, which pretence you knew to be false.”
The commission also alleged that Eboh and her company fraudulently obtained the same amount from the victims under the same claim of providing the dollar equivalent at the agreed rate.
However, the defendant pleaded not guilty when the charges were read to her.
Following her plea, the prosecution counsel, Nnaemeka Omenwa, asked the court to fix a date for trial and requested that the defendant be remanded in custody pending the commencement of proceedings.
Omenwa also informed the court that the defence had earlier forwarded a bail application related to another case involving the defendant before Rahman Oshodi.
“The defence counsel sent a bail application from the sister case before Justice Oshodi to my email. I will need clarification from the defence to enable me to know the appropriate application to respond to,” he said.
Responding, defence counsel Emefo Etudo told the court that he was not involved in the matter before Justice Oshodi and requested time to file a fresh bail application.
“My lord, I am not a party to the matter before Justice Oshodi. I will need about one hour to make a hard copy of the defendant’s bail application available before the court,” Etudo said.
The defence counsel also requested that the court grant multiple trial dates for speedy hearing of the case and urged that the bail application be given an earlier date in line with discussions with the prosecution.
After listening to both parties, Justice Dada adjourned the matter to March 24, 2026, for the hearing of the bail application and May 4, 2026, for the commencement of the trial.
