The Economic and Financial Crimes Commission (EFCC) has arraigned the Chief Executive Officer of Brookfield Group Holdings, Olatunji Oluwaseun Adebola, also known as Whitelion, and his company, Brookfield Mining Limited, over an alleged N990 million fraud.
Adebola was arraigned on Thursday, August 20, 2026, before Justice C. Ngozi of the Federal Capital Territory High Court sitting in Maitama, Abuja.
The defendants face a four-count charge bordering on conspiracy, obtaining money by false pretence and dishonest misappropriation of funds.
The alleged fraud followed a petition dated April 6, 2026, submitted by a petitioner through legal representatives, BB Dan Habu & Co. Solicitors.
According to the petition, Adebola and his company allegedly obtained N990 million from the petitioner under the guise of facilitating a foreign exchange transaction valued at $750,000.
The EFCC subsequently investigated the allegations and brought the company and its CEO before the court.
When the charges were read to Adebola during Thursday’s proceedings, he pleaded not guilty.
Following his plea, EFCC prosecution counsel, Oluwakemi Yemi-Makinde, asked the court to set a date for trial and remand the defendant in a correctional facility.
Defence counsel, however, informed the court that a bail application had already been filed on behalf of Adebola.
After considering the application, Justice Ngozi granted the defendant bail subject to conditions.
The court ordered Adebola to provide two sureties, with one required to be a civil servant on Grade Level 15.
The second surety must also be a civil servant and must own landed property within Abuja.
Justice Ngozi subsequently adjourned the case until September 15, 2026, for further proceedings.
