The Economic and Financial Crimes Commission (EFCC) has successfully retrieved $104,950 for a United States-based Nigerian businesswoman following a suspected heavy-equipment procurement fraud.
Operatives of the anti graft agency formally concluded the restitution process on Friday at the its Lagos Zonal Directorate in Ikoyi, handing over the final tranche of recovered funds to the victim, Mrs. Adeshola Oshilaja.
The financial dispute stemmed from a petition filed by Oshilaja against a close family associate, Babatunde Samuel Akinsanmi. According to official reports, the complainant had transferred the full sum to two Chinese equipment manufacturing firms on Akinsanmi’s instructions to purchase 10 dump trucks. A formal contract executed between both parties in July 2023 stipulated that the respondent would oversee the procurement and settle the financial obligations by the end of that year.
However, subsequent investigations revealed that while six of the heavy-duty vehicles were delivered to Nigeria, Akinsanmi seized the trucks and deployed them for personal commercial operations without remitting the generated revenue to the investor.
According to reports, upon receiving the petition, anti-graft investigators intervened, compelling the respondent to initially pay back $48,950 directly to the complainant before recovering the remaining $56,000 cash balance handed over during the Lagos ceremony.
Speaking on behalf of the Zonal Directorate, commission representatives emphasized that the successful recovery underscores the agency’s unwavering commitment to enforcing restitution and safeguarding investors against breach of trust.
Expressing her relief during the handover, Oshilaja commended the operatives for their professionalism, stating that the swift resolution restored her confidence in the nation’s law enforcement institutions.
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