The Economic and Financial Crimes Commission, EFCC, has recovered and returned $104,950 to a United States-based businesswoman, Mrs Adeshola Oshilaja, following an investigation into an alleged fraud involving the procurement of 10 dump trucks from China.
The commission handed over the outstanding $56,000 to Oshilaja on Friday at its Lagos Zonal Directorate 1 in Ikoyi, completing the restitution of the funds after an earlier payment of $48,950.
The money was recovered following a petition by Oshilaja against her business associate and family friend, Babatunde Samuel Akinsanmi, over his alleged failure to account for funds provided for the truck procurement.
According to the petition, Oshilaja transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on Akinsanmi’s instructions.
The EFCC investigation established that both parties signed a written agreement on July 25, 2023, in which Akinsanmi acknowledged receiving the money for the procurement of the trucks and promised to refund it by December 31, 2023.
However, six trucks were subsequently delivered to Akinsanmi in Nigeria. Oshilaja alleged that he retained the vehicles for business purposes without remitting the proceeds to her.
The commission said its investigation resulted in the recovery of the entire $104,950, with $48,950 initially paid to Oshilaja and the remaining $56,000 recovered in cash and handed over on Friday.
Speaking at the ceremony, the Acting Zonal Director of the directorate, Assistant Commander of the EFCC, ACE I Adebayo Adeniyi, represented by the Head of Public Affairs, Deputy Commander of the EFCC, DCE Ayo Oyewole, said the recovery reflected the commission’s commitment to returning recovered funds and assets to their rightful owners through due process.
He added that the EFCC would continue investigating alleged financial crimes and pursuing restitution for victims.
Oshilaja expressed appreciation to the commission for its handling of the case, describing the recovery as evidence of its efforts to address financial crimes.
She said, “I am so happy and grateful for all the effort the EFCC has put towards the recovery of this money. I am a testament to what the EFCC is doing in Nigeria, and I can always rely on the fact that you are really working hard. May God bless you all.”
