The Economic and Financial Crimes Commission, (EFCC) Tuesday arraigned one Adepoju Abiodun, promoter of Bigibet, before Justice O.A.Okunuga of the State High Court, Lagos.
Abiodun and his company, Nobelsteed Nigerian Limited, are being prosecuted on a 10-count charge bordering on stealing and obtaining under false pretence to the tune of N855 million.
The agency in a statement issued Tuesday said in 2021, he allegedly approached the petitioner to introduce Noblesteed, which he claimed was primarily into gaming business (lottery business).
It explained that Abiodun told the petitioner that he was raising capital for the proposed lottery business and also urged him to invest in Noblesteed’s equity capital.
It was also alleged that the defendant convinced the petitioner that he had been in the industry for a long time.
In view of this, the petitioner allegedly keyed into it and also got some other people to invest in the Noblesteed.
The agency added: “It was further alleged that a total sum of N855 million was paid into Abiodun’s nominated bank account as deposit for shares in the purported capital-raising exercise.
“The defendant, however, allegedly reneged on his promise and failed to refund the investors.”
The defendants pleaded “not guilty” when the charge was read to him.
In view of this, the prosecution counsel, A.M. Dambuwa, asked the court for a trial date and also prayed the court to remand the defendant in a correctional centre pending the trial.
The defence counsel, Adeyinka Abdulsalam, informed the court of a bail application, which he said had been served on the prosecution counsel.
Justice Okunuga ordered the defendant to be remanded at the Ikoyi correctional centre.
The Judge adjourned till July 9, 2025 for the hearing of the bail application and September 17, 2025 for the commencement of trial.