N1.2bn Fraud Trial: Court Fixes Feb 18 for Arraignment of Businessman Roland Elusoji

ByNewsmakers

Feb 5, 2026 #Advance Fee Fraud Act Nigeria, #cross-border fraud Nigeria US, #February 18 arraignment Lagos court, #Federal High Court Lagos fraud case, #luxury car fraud Nigeria, #money laundering charges Nigeria, #N1.2 billion fraud trial, #N1.207 billion fraud allegation, #Nigerian businessman fraud charges, #Police Special Fraud Unit case, #real estate fraud case, #Roland Elusoji fraud case

Oluwasegun Elusoji Roland

Matilda Omonaiye/

A Federal High Court sitting in Lagos has fixed February 18, 2026, for the arraignment of Nigerian businessman Roland Oluwasegun Elusoji over alleged fraud involving more than ₦1.2 billion.

Elusoji is slated to take his plea on a six-count amended charge marked FHC/L/593C/2025, filed on November 6, 2025, by the Police through the Police Special Fraud Unit.

According to the charge, the defendant allegedly conspired with Oladejo Funmilayo Grace and Abiola Oluwasegun, both said to be at large, to obtain ₦1,207,000,000 from Otunba Seye Famojuro under the guise of purchasing luxury vehicles and real estate, knowing the representations to be false.

The prosecution alleged that between November 2023 and November 2024, the accused and his co-conspirators fraudulently obtained funds in Nigeria and the United States. One count stated that $155,000 (about ₦26 million) was allegedly collected in the United States for the purchase of a 2024 Mercedes-Benz GLE 635, while another alleged ₦270 million was similarly obtained in Lagos for the same vehicle.

Further counts accused Elusoji of obtaining ₦907 million under the pretext of acquiring properties located in Conroe (Houston) and Plano (Dallas), Texas, in the United States.

In addition to charges under the Advance Fee Fraud and Other Related Offences Act, 2006, the defendant is also facing money-laundering allegations under the Money Laundering (Prevention and Prohibition) Act, 2022, for allegedly taking possession and control of proceeds of unlawful activity totaling ₦1.207 billion.

At the proceedings, the presiding judge, Alexander Owoeye, ordered that the defendant be served with hearing notices through his counsel, paving the way for the scheduled arraignment.

The case is expected to test the prosecution’s ability to prove cross-border fraud and money-laundering allegations involving high-value transactions and international assets.