EFCC Arraigns Brookfield CEO Over Alleged N990m FX Fraud In Abuja

The *EFCC, Lagos Zonal Directorate 2*, on *Thursday, August 20, 2026*, arraigned *Olatunji Oluwaseun Adebola*, CEO of *Brookfield Group Holdings* also known as _“Whitelion”_, before *Justice C. Ngozi* of the *FCT High Court, Maitama, Abuja* over an alleged *N990 million* fraud.

Adebola and his company, *Brookfield Mining Limited*, face a *four-count charge* bordering on conspiracy, obtaining money by false pretence and dishonest misappropriation of funds.

The charge followed a petition dated *April 6, 2026* by legal firm *BB Dan Habu & Co. Solicitors*. The petitioner alleged that the defendants obtained the money from its client under the guise of facilitating a *$750,000* foreign exchange transaction.

Adebola pleaded *“not guilty”* to all counts.

Prosecution counsel, *Oluwakemi Yemi-Makinde*, asked the court for a trial date and for the defendant to be remanded in a correctional facility.

The defence counsel informed the court of a pending bail application.

Ruling, *Justice Ngozi* granted bail on the condition that Adebola produce *two sureties*: one must be a *civil servant on Grade Level 15*, and the other a *civil servant who owns landed property in Abuja*.

The judge adjourned the case to *September 15, 2026* for trial.