EFCC arraigns Bigibet promoter over ₦855 million fraud involving false investment claims in Lagos; trial to begin on September 17, 2025

EFCC arraigns Bigibet promoter over a massive ₦855 million fraud, following allegations that he deceived investors with false claims of a gaming business venture.

Also read: EFCC Arrests Ogun Fraud Suspects in Shocking Cybercrime Raid Targeting Kingpin

On Wednesday, July 8, 2025, the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, arraigned Adepoju Emmanuel Abiodun, the promoter of Bigibet, before Justice O.A. Okunuga at the Lagos State High Court in Ikeja.

Abiodun, alongside his company Noblesteed Nigeria Limited, faces a 10-count charge of stealing and obtaining money under false pretence, all amounting to ₦855 million.

According to the EFCC, Abiodun approached the complainant in 2021 to solicit investments in what he described as a gaming and lottery business.

He allegedly convinced the complainant and others to invest in Noblesteed’s equity capital, assuring them of returns. The funds, investigators said, were deposited into Abiodun’s GTBank account.

One of the charges reads: “That you, Mr. Adepoju Emmanuel Abiodun, Noblesteed Nigeria Limited, sometime between June and September 2021, deceitfully obtained the total sum of ₦855,000,000.00 from several unsuspecting persons by falsely representing that the amount was an investment for equity shares in Noblesteed Nigeria Limited, which representation you knew to be false.”

When the charges were read in court, the defendants pleaded not guilty.

Prosecution counsel A.M. Dambuwa requested that the defendant be remanded and a trial date fixed. Defence counsel Adeyinka Abdulsalam informed the court of a bail application already filed and served on the prosecution.

Justice Okunuga ordered that Abiodun be remanded at the Ikoyi Correctional Centre. The court then adjourned the bail hearing to July 9, 2025, and fixed September 17, 2025, for the commencement of trial.

A spokesperson for the EFCC noted, “The scale of the deception and the number of victims make this a significant case. The commission remains committed to securing justice.”

Also read: Court Sees Video Evidence Against Oyo-Ita in EFCC Trial

The arraignment marks a significant move by the anti-graft agency as the EFCC arraigns Bigibet promoter for an elaborate scheme that allegedly preyed on unsuspecting investors hoping to buy into a legitimate business venture.