Adepoju Emmanuel Abiodun, the founder of Bigibet has been arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged fraud.
Abiodun and his company, Noblesteed Nigeria Limited, are facing a 10-count charge bordering on stealing and obtaining money under false pretence amounting to N855 million before Justice O.A. Okunuga of the Lagos State High Court sitting in Ikeja.
According to the EFCC, in 2021, Abiodun approached the complainant, introducing Noblesteed as a lottery business seeking capital investment.
He allegedly urged the petitioner to invest in the company’s equity capital, claiming to have long-standing experience in the gaming industry.
Persuaded by his pitch, the petitioner allegedly invested and also convinced others to do the same.
In total, a sum of N855,000,000 was reportedly paid into Abiodun’s bank account as part of the capital-raising drive.
However, the EFCC said the defendant failed to deliver on the promise or refund the funds.
One of the charges reads: “That you, Mr. Adepoju Emmanuel Abiodun, Noblesteed Nigeria Limited, sometime between June, 2021 and September, 2021 in Lagos, within the Ikeja Judicial Division of this Honourable Court, deceitfully obtained the total sum of N855,000,000.00 (Eight Hundred and Fifty-Five Million Naira) only, from several unsuspecting persons, through your GT Bank Account No. 0591549473, by falsely representing to them that the said amount was an investment for the purchase of Equity Share Capital of Noblesteed Nigeria Limited, which representation you knew to be false, thereby committed an offence of obtaining money by false pretence contrary to Sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No: 14 of 2006.”
The defendants pleaded “not guilty” to all charges.
Following the plea, prosecuting counsel A.M. Dambuwa requested a trial date and prayed the court to remand the defendant in custody pending trial.
Defence counsel Adeyinka Abdulsalam informed the court that a bail application had already been filed and served on the prosecution.
Justice Okunuga ordered the defendant to be remanded at the Ikoyi Correctional Centre, and adjourned the case to July 9, 2025, for hearing of the bail application and September 17, 2025, for the commencement of trial.
