The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) on Wednesday, July 8, 2025, arraigned Adepoju Emmanuel Abiodun, promoter of Bigibet, before Justice O.A. Okunuga of the Lagos State High Court sitting in Ikeja.
Abiodun, alongside his company, Noblesteed Nigeria Limited, is facing a 10-count charge bordering on stealing and obtaining money under false pretences to the tune of N855 million.
According to the EFCC, Abiodun approached a petitioner in 2021, introducing Noblesteed as a gaming (lottery) business and soliciting investment for its equity capital. Claiming extensive experience in the industry, he allegedly persuaded the petitioner—and others—to invest a total of N855,000,000.00, which was paid into a GTBank account under the pretext of purchasing shares in Noblesteed.
However, the EFCC alleges that Abiodun failed to fulfil his promises or refund the investors.
One of the charges reads: “That you, Mr. Adepoju Emmanuel Abiodun, Noblesteed Nigeria Limited, sometime between June 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.”
Abiodun and his company pleaded not guilty to all charges.
Prosecuting counsel A.M. Dambuwa requested the court to fix a trial date and remand the defendant in custody. Defence counsel Adeyinka Abdulsalam informed the court of a pending bail application, already served on the prosecution.
Justice Okunuga ordered the remand of the defendant at the Ikoyi Correctional Centre and adjourned the case to July 9, 2025, for hearing of the bail application and September 17, 2025, for commencement of trial.