Federal High Court Orders Arrest of Businessman Over ₦1.2 Billion Fraud Allegation
Justice Alexander Owoeye of the Federal High Court, Lagos, has issued a warrant for the arrest of Nigerian businessman, Rolland Oluwasegun Elusoji, in connection with an alleged ₦1.2 billion fraud. The arrest order, contained in Form E and signed on 18 February 2026, followed an application by the prosecution.
The Court directed the Nigeria Police and other security agencies to apprehend Elusoji wherever he may be found and produce him before the Court for arraignment. Elusoji was scheduled to take his plea on charges of conspiracy, obtaining money under false pretence, and money laundering involving ₦1,207,000,000, but failed to appear despite being duly served.
The charges, filed by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos, in suit number FHC/L/583C/2025, allege that Elusoji and two others—currently at large—fraudulently obtained funds from Otunba Seye Famojuro under the guise of purchasing luxury vehicles and real estate. The prosecution, led by CSP Achi Caleb, stated that the offences contravene provisions of the Advance Fee Fraud and Other Related Offences Act, 2006, as well as the Money Laundering (Prevention and Prohibition) Act, 2022.
One of the counts alleges that the defendants conspired to obtain ₦1.207 billion by falsely claiming the funds would be used to acquire property and a vehicle. Another charge relates to ₦270 million allegedly obtained under the pretence of purchasing a 2024 Mercedes‑Benz GLE 63.
Justice Owoeye adjourned the matter to 25 May 2026 for Elusoji’s arraignment.
