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The Economic and Financial Crimes Commission (EFCC) has recovered and returned $104,950 to an American-based businesswoman, Mrs Adeshola Oshilaja, following an investigation into alleged procurement fraud in Lagos.
The EFCC handed over the final $56,000 to Oshilaja on Friday at its Lagos Zonal Directorate 1 in Ikoyi. The payment completed the recovery of the full amount involved in the case. According to the Commission, the defendant, Babatunde Samuel Akinsanmi, had earlier paid $48,950 directly to Oshilaja, while the remaining $56,000 was recovered in cash.
The investigation followed a petition Oshilaja filed over Akinsanmi’s alleged failure to account for funds provided to procure 10 dump trucks from China. Oshilaja said she transferred $104,950 to Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited on Akinsanmi’s instructions.
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EFCC investigators found that both parties entered into a written agreement on July 25, 2023, in which Akinsanmi acknowledged receiving the funds for the truck procurement and agreed to refund the money by December 31, 2023.
Six of the trucks were later delivered to Akinsanmi in Nigeria. Oshilaja alleged that he retained the vehicles and used them for business without remitting the proceeds to her.
Speaking during the handover, Acting Zonal Director Adebayo Adeniyi, represented by Head of Public Affairs Ayo Oyewole, said the EFCC remained committed to returning recovered funds and assets to their rightful owners through due process.
He said the Commission would continue investigating alleged financial crimes and ensuring restitution for victims where appropriate.
Oshilaja thanked the EFCC for its handling of the case, describing herself as evidence of the Commission’s recovery efforts.
