The Economic and Financial Crimes Commission has arraigned an alleged serial fraudster, Titilayo Eboh, before the Special Offences Court in Ikeja over an alleged foreign exchange fraud involving about N1.87 billion.
Eboh was brought before Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, by the Lagos Zonal Directorate 2 of the anti graft agency on Wednesday, March 4, 2026.
She was arraigned alongside Chayomi Aluminium Limited and one Abubakar Funtua, who is currently at large, on a three count charge bordering on conspiracy, stealing and obtaining money by false pretence.
According to the prosecution, the defendants allegedly conspired between December 2, 2020 and January 25, 2021 to obtain a cumulative sum of N1,871,220,000 from two businessmen under the guise of providing United States dollars for exchange.
The commission told the court that the money was collected from Olamayowa Abdulwasiu Olabisi and Adekanmi Adedire of Himark Intertrades Limited after the defendants allegedly claimed they had the equivalent amount in United States dollars to exchange at the rate of N420 per dollar.
The prosecution alleged that the representation was false and was made with the intent to defraud the victims.
Eboh pleaded not guilty when the charges were read in court.
Following her plea, prosecution counsel Nnaemeka Omenwa asked the court to fix a trial date and to remand the defendant in custody pending the commencement of the trial.
Read also:
- Federal High Court jails 2 for Sextortion in Lagos as EFCC intensifies crackdown on Cybercrime
- EFCC witness tells court how father allegedly defrauded her of N19m in Lagos land scam
- EFCC seeks Supreme Court’s cancellation of Ajudua’s bail in $1.043m fraud case
Omenwa also informed the court that the defence had earlier filed a bail application in another case involving the defendant before Rahman Oshodi. He said clarification was required from the defence before the prosecution could respond appropriately.
Responding, defence counsel Emefo Etudo told the court that he was not involved in the separate matter before Justice Oshodi and requested time to submit a hard copy of the bail application for consideration.
Etudo further asked the court to grant multiple dates for the trial while urging that the bail application be given an early hearing date.
After listening to both parties, Justice Dada adjourned the hearing of the bail application to March 24, 2026, while the trial is scheduled to begin on May 4, 2026.
