By Issa Aminu
LAGOS — The Economic and Financial Crimes Commission, EFCC, has handed over $56,000 recovered from a suspected procurement fraud case to an American-based businesswoman, Mrs. Adeshola Oshilaja, bringing the total sum recovered on her behalf to $104,950.
The handover was carried out at the Commission’s Lagos Zonal Directorate 1, Ikoyi, Lagos, according to a statement issued by the anti-graft agency.
According to the EFCC, the latest recovery represents the outstanding balance of funds allegedly misappropriated by her business associate and family friend, Babatunde Samuel Akinsanmi. The Commission disclosed that $48,950 had earlier been paid directly to Oshilaja by the defendant, leaving a balance of $56,000 which has now been recovered and returned.
The recovery followed an investigation into a petition filed by Oshilaja over the alleged failure of Akinsanmi to account for funds provided for the procurement of 10 dump trucks from China.
Oshilaja, who is based in the United States, had alleged that she transferred a total of $104,950 to two Chinese companies — Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited — on the instructions of Akinsanmi, who was to facilitate the purchase and importation of the trucks into Nigeria.
The EFCC’s investigation revealed that the parties entered into a written agreement on July 25, 2023, under which Akinsanmi acknowledged receiving the sum of $104,950 for the procurement of the trucks and undertook to refund the full amount on or before December 31, 2023, if he failed to deliver as agreed.
Investigators found that only six of the 10 trucks were subsequently delivered to Akinsanmi in Nigeria. Rather than remit the proceeds or return the vehicles to the petitioner, Oshilaja alleged that he retained the trucks and deployed them for his personal business operations without accounting to her.
Following the petition, operatives of the EFCC commenced investigation, which led to the recovery of the entire sum. Out of the $104,950, the sum of $48,950 was initially paid to Oshilaja, while the remaining $56,000, recovered in cash, was handed over to her at the Commission’s Lagos office.
The Commission said the handover is in line with its commitment to ensuring that victims of fraud get restitution and that persons who breach trust in business transactions are made to account for their actions.
An official of the Lagos Zonal Directorate who performed the handover was quoted as saying that the EFCC would continue to investigate and prosecute all forms of economic and financial crimes, regardless of the relationship between the parties involved.
The EFCC also used the opportunity to advise members of the public, particularly Nigerians in the diaspora, to exercise due diligence and enter into properly documented agreements when engaging in business transactions involving proxies or associates in Nigeria.
It warned that the Commission would not hesitate to bring to justice anyone found to have abused trust or converted funds meant for business purposes to personal use.
Oshilaja, who received the recovered funds, expressed gratitude to the Commission for its swift intervention and professionalism in recovering her money.
The Oshilaja case, our paper gathered, is yet another on the list of business-related fraud cases resolved by the EFCC involving Nigerians in the diaspora who rely on family members, friends and business associates at home to execute transactions, only to be allegedly defrauded.