Efcc Charges Bigibet Founder Over Alleged ₦855 Million Scam

The Economic and Financial Crimes Commission (EFCC) has officially arraigned Adepoju Abiodun, founder of the BigiBet gaming platform, on serious financial charges. According to the commission, Mr. Abiodun is accused of orchestrating a staggering ₦855 million fraud through fraudulent gaming activities.

What the Charge Sheet Says

The EFCC's formal charges allege that, between January 2023 and May 2025, Abiodun used the BigiBet platform to deceive several individuals across various Nigerian states. According to the agency:

• Users were enticed with fraudulent promotions, leading them to make substantial deposits.

• Allegedly, these promotions masked schemes designed to defraud unsuspecting victims out of large sums.

• The cumulative loss to victims adds up to about ₦855 million.

The EFCC claims these transactions exceed the legal limit for acceptable gaming promotions and amount to a coordinated fraud.

Court Action Begins

The legal action unfolded at the Federal High Court in Lagos, where Mr. Abiodun faced charges related to obtaining money by false pretence and defrauding Nigerians. The EFCC formally presented its case before the presiding judge, laying out evidence and witness statements.

Abiodun’s Defense

In court, Mr. Abiodun entered a ‘not guilty’ plea. He challenged the EFCC's narrative and is being represented by a legal team ready to defend his position vigorously. Key points raised by his lawyers include:

• The claim that BigiBet promotions were entirely lawful and clearly disclosed to users.

• Assertions that any technical issues or delays were unintentional and not fraudulent in intent.

Legal Context and Next Steps

This case underscores Nigeria’s growing scrutiny of the rapidly expanding online gaming industry, especially concerning promotions and transactional transparency. In the past, the EFCC has intervened in other platforms suspected of operating unfair or deceptive schemes.

The lag time between the alleged fraud and the arraignment indicates a thorough investigation, involving tracing transactions and securing digital evidence.

Here’s what to expect moving forward:

• Bail Considerations: The Federal High Court will decide if Abiodun can be released on bail—historic trends in similar cases show outcomes ranging from full bail to conditional release with strict monitoring.

• Evidence Compilation: The EFCC will compile financial logs, bank statements, user testimonies, and platform records to establish a clear pattern of fraudulent activity.

• Legal Arguments: Abiodun’s defense will likely question the legality and intent behind the platform’s promotional strategies and claim no deliberate wrongdoing.

Why This Case Matters

1. Heightened Industry Scrutiny
   Regulators are increasingly focused on oversight of gaming platforms and their marketing tactics—this is a clear warning shot.

2. Investor & User Awareness
   With ₦855 million allegedly lost, both local and international investors are watching closely. Platforms must maintain robust consumer protections and transparency.

3. Judiciary’s Role in Fraud Prevention
   The courts are playing a central role in setting precedents for digital financial accountability—this case may define how such crimes are prosecuted.

Conclusion: What to Watch Next

• Bail ruling: Will he be granted bail or held in custody? Either outcome may influence public opinion.

• Details of evidence: As the trial progresses, more financial and digital transaction data will come to light.

• Sector-wide repercussions: Other gaming platforms may face increased regulatory pressure or proactive investigations.

What This Means for You:

• Proceed with caution when engaging in promotional gaming or betting platforms.

• Monitor further developments as the court case unfolds—especially if you’re active in the market or considering investment.