The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned one Andrew Odekina before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, over an alleged fraud linked to a breach of First City Monument Bank (FCMB)’s banking application.
Odekina was docked on a one-count charge bordering on retention of proceeds of criminal conduct, contrary to Section 17(a) and (b) of the EFCC (Establishment) Act, 2004.
Suspect, Andrew Odekina
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According to the charge, the defendant, alongside others still at large, allegedly received and retained the sum of N9,873,215.00 in his FCMB account in 2025.
The EFCC told the court that the funds formed part of a larger N3,091,441,849 fraud allegedly perpetrated through unauthorised access and manipulation of FCMB’s banking application.
The charge reads: “Andrew Odekina and other persons at large, sometime in 2025 in Lagos, within the jurisdiction of this Honourable Court, received into your FCMB account number 21016691841 and retained control of the sum of N9,873,215 (Nine Million, Eight Hundred and Seventy-Three Thousand, Two Hundred and Fifteen Naira).”
The defendant pleaded not guilty to the charge.
Following his plea, prosecution counsel, Babatunde Sonoiki, requested a trial date and urged the court to remand the defendant in a correctional facility pending trial. The defendant was not represented by counsel during the proceedings.
Justice Dada subsequently adjourned the matter until May 11, 2026, for trial and ordered that the defendant be remanded in a correctional centre.
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