The Economic and Financial Crimes Commission has arraigned the Chief Executive Officer of Brookfield Group Holdings, Olatunji Oluwaseun Adebola, popularly known as Whitelion, over an alleged N990 million fraud.
Adebola and his company, Brookfield Mining Limited, were arraigned on Thursday before Justice C. Ngozi of the Federal Capital Territory High Court sitting in Maitama, Abuja.
They face a four-count charge bordering on conspiracy, obtaining money by false pretence and dishonest misappropriation of funds.
The EFCC alleged that the defendants obtained N990 million from a petitioner under the guise of facilitating a $750,000 foreign exchange transaction.
The arraignment followed a petition dated April 6, 2026, submitted through BB Dan Habu & Co. Solicitors on behalf of the complainant.
Adebola pleaded not guilty to the charges.
Following his plea, EFCC counsel, Oluwakemi Yemi-Makinde, asked the court to adjourn the matter for trial and remand the defendant in a correctional facility.
Defence counsel, however, informed the court of a pending bail application.
Justice Ngozi granted the bail application and ordered Adebola to provide two sureties.
The judge directed that one surety must be a civil servant on Grade Level 15, while the second must be a civil servant who owns landed property in Abuja.
The court adjourned the case until September 15, 2026.
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