The Economic and Financial Crimes Commission (EFCC) has arraigned the founder of the popular online gaming platform, Bigibet, Mr. Adepoju Abiodun, before a Federal High Court in Lagos over his alleged involvement in a massive ₦855 million fraud. The arraignment, which took place earlier this week, marks a significant step in the Commission’s ongoing clampdown on financial crimes within Nigeria’s growing digital and betting sectors.
According to details made available to KIIN360, Mr. Abiodun is facing multiple counts bordering on obtaining money by false pretence, fraudulent conversion of funds, and operating a gaming business under allegedly deceptive pretenses. The EFCC maintains that the accused misappropriated over ₦855 million belonging to unsuspecting investors and gaming participants who engaged with the Bigibet platform under the assumption of legitimate earnings.
The anti-graft agency revealed that its investigation followed a series of petitions from aggrieved users and stakeholders who claimed to have been defrauded through promises of unrealistic returns on bets and investments. Prosecutors allege that Abiodun diverted the funds for personal enrichment and failed to remit winnings to platform users as advertised.
During the court proceedings, the EFCC’s counsel presented preliminary evidence to support the charges, urging the court to deny bail due to the magnitude of the financial loss and the risk of flight. However, Mr. Abiodun, through his legal team, pleaded not guilty to all counts and has requested bail, citing health concerns and a willingness to cooperate with the investigation.
Justice Chukwujekwu Aneke, who presided over the case, adjourned the matter to allow for a full hearing on the bail application and trial proceedings. The court also directed that the defendant be remanded in EFCC custody pending further deliberations.
The case has since drawn public attention, especially given the prominence of Bigibet in Nigeria’s booming online sports betting space. Industry observers say the incident highlights the urgent need for tighter regulatory oversight of digital gaming platforms, which continue to attract millions of users across the country.
In a brief statement, the EFCC reiterated its commitment to protecting Nigerians from fraud and financial exploitation, particularly in the rapidly evolving digital economy. The Commission also encouraged members of the public to report suspicious platforms and activities, assuring them that all credible complaints will be thoroughly investigated.
As the legal battle unfolds, many are closely watching the outcome of this high-profile case, which could set a precedent for how financial crimes linked to online betting platforms are prosecuted in Nigeria going forward.
