EFCC arraigns alleged serial fraudster, Titilayo Eboh over N1.8bn forex fraud

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Ikoyi, on Wednesday March 4, 2026, arraigned an alleged serial fraudster, Titilayo Eboh , before Justice Mojisola Dada of the Special Offences Court, sitting in Ikeja, over an alleged N1, 871, 220, 000.00 (One Billion, Eight Hundred and Seventy-one Million , Two Hundred and Twenty Thousand Naira).

Eboh was arraigned alongside Chayomi Aluminum Ltd. and one Abubakar Funtua (now at large) on a three-count charge bordering on conspiracy to obtain money by false pretence, stealing and obtaining money by false pretense.

Count one of the charge reads:

“Titilayo Eboh, Chayomi Aluminium Limited and one Abubakar Funtua (at large), between 2nd December, 2020 to 25th January, 2021, at Lagos, within the jurisdiction of this Honourable Court, with the intent, to defraud conspired amongst yourselves and obtained the cumulative sum of N1, 871,220,000.00 (One Billion, Eight Hundred and Seventy One Million, Two Hundred and Twenty naira) only from Mr. Olamayowa Abdulwasiu Olabisi and Mr. Adekanmi Adedire of Himark Intertrades Limited under the false pretense that you have the United States Dollars equivalent of the said sum to exchange for them at the rate of N420 per dollar which pretense you knew to be false.”

Count two reads:

“Titilayo Eboh and Chayomi Aluminium Limited, between 2nd December, 2020 to 25th January, 2021 at Lagos, within the jurisdiction of this Honourable Court, with the intent to defraud, obtained the cumulative sum of N1, 871,220,000.00 (One Billion, Eight Hundred and Seventy One Million, Two Hundred and Twenty naira) only from Mr. Olamayowa Abdulwasiu Olabisi and Mr. Adekanmi Adedire of Himark Intertrades Limited under the false pretense that you have the United States Dollars equivalent of the said sum to exchange for them at the rate of N420 per dollar which pretense you knew to be false.”

The defendant pleaded “not guilty” to the charges when they were read to her.

In view of this, prosecution counsel, Nnaemeka Omenwa, asked for a trial date and also prayed that the defendant be remanded in the appropriate custody pending the trial date.

Omenwa further told the court that the defence counsel sent a bail application from the sister case of the defendant before Justice Rahman Oshodi to his e-mail.

He, however, stated that he needed clarification from the defence counsel to enable him know the one to rely on before he files his response.

Responding, the defence counsel, Emefo Etudo, told the court that he was not a party to the matter before justice Oshodi.

Etudo added that the prosecution should give him one hour to make a hard copy of the defendant’s bail available.

Etudo prayed the court to give multiple trial dates.

He, however, prayed that the bail application should be given an earlier date for hearing in line with his discussion with the prosecution.

Justice Mojisola Dada, thereafter, adjourned the bail application to March 24, 2026 and May 4, 2026 for the commencement of trial.