The Economic and Financial Crimes Commission, (EFCC) 0n Thursday, August 20, 2026, arraigned the Chief Executive Officer of Brookfield Group Holdings, Olatunji Adebola before Justice C. Ngozi of the Federal Capital Territory (FCT) High Court Abuja for an alleged N990 million fraud.
Adebola, alongside his company, Brookfield Mining Limited, was arraigned on a four-count charge bordering on conspiracy, obtaining money by false pretence and dishonest misappropriation of funds to the tune of N990 million.
The agency in a statement issued Thursday noted that his arraignment followed a petition dated April 6, 2026, filed by a petitioner through a legal counsel, BB Dan Habu & Co.
It said solicitors, alleging that the defendants obtained the funds from its client under the guise of facilitating a foreign exchange transaction worth $750,000.
During the proceedings on Thursday, the defendant pleaded “ not guilty” to the charges preferred against him.
Following his plea, prosecution counsel, Oluwakemi Yemi-Makinde, prayed the court for a trial date and the remand of the defendant in a correctional facility.
The agency added that the defence counsel, however, informed the court of a pending application for bail on behalf of the defendant.
Ruling on the application, Justice Ngozi ordered the defendant to produce two sureties, one of whom must be a civil servant on Grade Level 15, while the other must be a civil servant who owns a landed property in Abuja.
Justice Ngozi, thereafter, adjourned the case till September 15, 2026.