EFCC arraigns Bigibet promoter over N855 million fraud
Bigibet promoter Adepoju Emmanuel Abiodun has been arraigned before the court on charges of alleged financial crimes.
Nigeria.- Bigibet promoter Adepoju Emmanuel Abiodun has been arraigned before the court on charges of alleged financial crimes by the Economic and Financial Crimes Commission (EFCC).
The prosecution, led by the Lagos Zonal Directorate 2 of the EFCC, charged Abiodun and his company, Nobelsteed Nigerian Limited, with 10 counts of alleged fraud, including stealing and obtaining money amounting to N855 million (€480,661) under false pretences.
According to court documents, Abiodun reached out to the petitioner in 2021 to introduce Noblesteed, claiming the company was engaged in the lottery business. He touted his long-standing experience in the lottery sector and convinced the petitioner to invest in Noblesteed’s equity.
Based on these representations, the petitioner invested in the lottery business and also recruited other investors for the company. A total of N855 million was allegedly paid into Abiodun’s bank account as share deposits for the purported capital-raising venture.
Prosecutors claim that after reneging on his commitments, the defendant failed to refund the investors.
However, Abiodun pleaded “not guilty” to the allegations. His defence lawyer Adeyinka Abdulsalam told the court that he had submitted a bail application, which the prosecution is privy to. Prosecution counsel, A.M. Dambuwa, asked the court to set a trial date and to remand the defendant in a correctional facility until the trial concludes.
Justice O.A. Okunuga, the presiding judge of the State High Court in Ikeja, where the case is being heard, ruled that the defendant be held at the Ikoyi Correctional Centre. The court also adjourned the trial to September 17, 2025.
