EFCC Arraigns Man Over Alleged ₦13.6 Million Fraud In Ibadan

The Economic and Financial Crimes Commission (EFCC) has arraigned a man, Yusuf Oyepeju, before the Oyo State High Court in Ibadan over an alleged ₦13.6 million fraud.

Oyepeju was arraigned alongside two companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, on a six-count charge bordering on forgery, uttering of documents, stealing by conversion and obtaining money under false pretence, Naija News reports.

The EFCC Head of Media and Publicity, Dele Oyewale, disclosed this in a statement issued in Ibadan on Wednesday.

The Ibadan Zonal Directorate of the anti-graft agency alleged that Oyepeju defrauded an Islamic cleric and Dubai-based Nigerian, Fasasi Bayonle, of money and property after the two met on a WhatsApp group created for Muslims and the propagation of Islamic teachings.

According to the EFCC, both men served as tutors on the platform.

One of the charges alleged that Oyepeju and the two companies converted ₦8,697,900 belonging to Bayonle to their personal use between February and August 2020.

The charge read in part: “That you, Yusuf Oyepeju, Alwajeez International Nigeria Limited and AIN Homes And Properties Limited between February and August, 2020, within the jurisdiction of this Hon Court, converted to your own personal use, the sum of ₦8,697,900.00, property of one Fasasi Bayonle, thereby committed an offence of stealing by conversion…”

Oyepeju pleaded not guilty to all the charges after they were read to him.

Following his plea, EFCC counsel, Sanusi Galadanchi, asked the court to adjourn the matter for trial and prayed that the defendant be remanded in a correctional facility.

However, the defendant’s lawyer, B. Ajibola, told the court that a bail application had already been filed and served on the prosecution.

Justice Olusola Adetujoye subsequently adjourned the case for hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre, Ibadan.

The EFCC said the matter dates back to 2018, when Oyepeju allegedly approached Bayonle for financial assistance to secure accommodation for himself and his newly married wife in Ibadan.

According to the commission, Bayonle initially intended to raise money to assist him but instead offered Oyepeju temporary use of his unoccupied house at No. 3, Road 7, Ikumapayi area of Olodo, Ibadan.

The property had reportedly been occupied by Bayonle before he relocated to the United Arab Emirates.

The EFCC alleged that Oyepeju, who presented himself as a property developer, later convinced Bayonle to provide money for the purchase of land and construction of another house in Ibadan.

The commission said Bayonle subsequently transferred ₦8,697,900 to Oyepeju for the proposed land purchase and development.

However, the arrangement allegedly took a different turn when the defendant was accused of forging a “Transfer of Agreement” document between himself and Bayonle.

The EFCC further alleged that Oyepeju subsequently sold the house he had been allowed to occupy temporarily to companies linked to him and converted the proceeds for personal use.

The commission also said the investigation revealed that Oyepeju failed to fulfill his promise to purchase and develop land for Bayonle despite receiving the money.

The defendant remains in custody pending the hearing of his bail application.