EFCC Cracks Down On Alleged ₦13.6m Fraud As Man Faces Charges In Ibadan

The Economic and Financial Crimes Commission (EFCC) has arraigned Yusuf Oyepeju before the Oyo State High Court in Ibadan over an alleged ₦13.6 million fraud involving forgery, stealing by conversion and obtaining money under false pretences.

Oyepeju was arraigned alongside two companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, on a six-count charge.

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

According to the commission, the alleged victim, Fasasi Bayonle, is an Islamic cleric and Nigerian based in Dubai. The EFCC said Oyepeju and Bayonle became acquainted through a WhatsApp group established for Muslims and Islamic teachings, where both reportedly served as tutors.

The anti-graft agency alleged that Oyepeju and the two companies converted ₦8,697,900 belonging to Bayonle for their personal use between February and August 2020.

One of the charges stated:

“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 when they were read to him.

Following his plea, EFCC counsel, Sanusi Galadanchi, requested an adjournment for trial and asked the court to remand the defendant in a correctional facility.

However, Oyepeju’s lawyer, B. Ajibola, informed 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 in Ibadan.

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

Rather than provide him with money, Bayonle reportedly offered Oyepeju temporary access to his unoccupied property at No. 3, Road 7, Ikumapayi area of Olodo, Ibadan.

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

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

According to the EFCC, Bayonle subsequently transferred ₦8,697,900 to Oyepeju for the proposed land purchase and development.

The commission alleged that the arrangement later took a different turn after Oyepeju was accused of forging a “Transfer of Agreement” document purportedly executed between him and Bayonle.

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

The agency also claimed that investigations showed the defendant failed to purchase and develop the proposed property for Bayonle despite receiving the funds.

Oyepeju remains in custody at the Agodi Correctional Centre pending the hearing of his bail application.