By Nkechi Eze
The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) has arraigned Adepoju Emmanuel Abiodun, the promoter of Bigibet, before Justice O.A. Okunuga of the Lagos State High Court sitting in Ikeja over an alleged N855 million investment fraud.
In an official statement issued by EFCC spokesperson, Dele Oyewale, the anti-graft agency disclosed that Abiodun and his company, Noblesteed Nigeria Limited, are standing trial on a 10-count charge bordering on stealing and obtaining money under false pretence.
According to the EFCC, the charges stem from a capital-raising scheme initiated in 2021, in which Abiodun allegedly lured investors under the guise of seeking funds for a proposed lottery business. He reportedly told the complainant, and subsequently other investors, that he had extensive experience in the gaming industry and was raising equity capital for Noblesteed Nigeria Limited.
Relying on these representations, the investors allegedly deposited a total sum of N855,000,000 into Abiodun’s Guaranty Trust Bank account (account number 0591549473) between June and September 2021. However, the EFCC alleged that Abiodun failed to deliver on his promises and did not refund the monies.
One of the charges reads: “That you, Mr. Adepoju Emmanuel Abiodun, Noblesteed Nigeria Limited, sometime between June, 2021 and September, 2021 in Lagos, within the Ikeja Judicial Division of this Honourable Court, deceitfully obtained the total sum of N855,000,000.00 (Eight Hundred and Fifty-Five Million Naira) only, from several unsuspecting persons, through your GT Bank Account No. 0591549473, by falsely representing to them that the said amount was an investment for the purchase of Equity Share Capital of Noblesteed Nigeria Limited, which representation you knew to be false, thereby committed an offence of obtaining money by false pretence contrary to sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No: 14 of 2006.”
Abiodun and his company pleaded “not guilty” to all charges.
Following the plea, EFCC prosecution counsel A.M. Dambuwa requested a trial date and prayed the court to remand the defendant in a correctional facility pending trial. In response, defence counsel Adeyinka Abdulsalam informed the court that a bail application had been filed and served on the prosecution.
Justice Okunuga ordered that the defendant be remanded at the Ikoyi Correctional Centre and adjourned the matter till July 9, 2025, for hearing of the bail application, and September 17, 2025, for commencement of trial.
