EFCC arrests, arraigns Brookfield Holdings CEO Olatunji Adebola for alleged N1 billion fraud
Brookfield Group Holdings and its CEO, Olatunji ‘Whitelion’ Adebola, were arraigned on Thursday before Justice C. Ngozi of the FCT High Court, Maitama Division, for alleged N990 million fraud.
Mr Adebola and his company face four charges, including conspiracy, obtaining money by false pretence, and dishonest misappropriation of funds totalling N990 million.
Mr Adebola, along with his company, Brookfield Mining Limited, was accused of conspiracy, obtaining money by false pretence, and dishonest misappropriation of funds.
His arraignment followed a petition dated April 6, 2026, filed by a petitioner through a legal counsel, BB Dan Habu & Co. Solicitors, alleging that the defendants obtained the funds from its client under the guise of facilitating a foreign exchange transaction worth $750,000, according to a statement by the Economic and Financial Crimes Commission on Thursday.
Mr Adebola, however, pleaded not guilty, prompting the prosecution counsel, Oluwakemi Yemi-Makinde, to ask the court for a trial date and the defendant’s remand in prison custody.
But defence counsel informed the court of a pending bail application for Mr Adebola.
The judge ordered him to produce two sureties who must be civil servants on Grade Level 15 and own landed property in Abuja, respectively.
The court adjourned the case until September 15, 2026.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Politics
PDP candidate Ashumate outlines agenda for Taraba South
Jesse Ashumate, a senatorial candidate for Taraba South, has unveiled a blueprint to transform the agricultural sector, restore lasting peace, and drive economic empowerment.
States
NAPTIP honours Benue Links GM over support for survivors
The National Agency for the Prohibition of Trafficking in Persons has honoured Alexander Fanafa, the general manager of Benue Links Nigeria, as its ambassador in Benue.
Anti-Corruption
Benue assembly suspends Kwande LGA chair for abuse of office, gross misconduct
The Benue assembly recommended suspending the chairman of Kwande council area, Vitalis Neji, for three months over allegations of gross misconduct and abuse of office.
Anti-Corruption
Mining marshals intensify crackdown on illegal mining cartels
“We must ask: How do the people in those forests feed? How do they get money?” Mr Onoja said.
Showbiz
Victony releases sophomore ‘Starlife’ album
Singer Anthony Victor, aka Victony, has released his second studio album, ‘Starlife’, a 15-track project.
Showbiz
Don Jazzy hails Ayra Starr, says ‘she has changed my life’
Nigerian record producer and singer, Michael Ajereh, popularly known as Don Jazzy, says Afrobeats star, Sarah Aderibigbe, known as Ayra Starr, has changed his life.
