The Economic and Financial Crimes Commission (EFCC) has recovered a total of $104,950 for a United States-based Nigerian businesswoman, Mrs Adeshola Oshilaja, following an investigation into an alleged procurement fraud involving the purchase of dump trucks from China.
The commission recently handed over the outstanding sum of $56,000 to Oshilaja at its Lagos Zonal Directorate 1 in Ikoyi, Lagos, completing the recovery of the funds involved in the case.
The latest payment followed an earlier refund of $48,950 made directly to the businesswoman by the defendant, Babatunde Samuel Akinsanmi. With the additional $56,000 recovered by the EFCC, the entire $104,950 has now been returned to Oshilaja.
According to the commission, the investigation began after Oshilaja submitted a petition alleging that Akinsanmi, her business associate and family friend, failed to properly account for money provided for the procurement of 10 dump trucks from China.
In her petition, Oshilaja explained that she transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, based on instructions from Akinsanmi.
The EFCC’s investigation established that both parties signed a written agreement on July 25, 2023. Under the agreement, Akinsanmi acknowledged receiving the funds for the truck procurement and undertook to refund the full amount on or before December 31, 2023.
However, the businesswoman alleged that although six of the trucks were eventually delivered to Akinsanmi in Nigeria, he retained and used them for business activities without remitting the proceeds to her.
The disagreement over the funds subsequently led to a petition to the anti-graft agency, which investigated the matter and pursued the recovery of the money.
The commission said its investigation resulted in the recovery of the entire $104,950. While $48,950 had already been refunded directly to Oshilaja, the remaining $56,000 was recovered in cash and formally handed over to her at the EFCC’s Lagos office.
The recovery brings the matter’s financial aspect to a conclusion, with the businesswoman receiving the full amount involved in the complaint.
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The development highlights the EFCC’s role in investigating financial complaints and facilitating the recovery of funds in cases involving alleged fraud and disputed business transactions.
[…] EFCC Recovers Full $104,950 for U.S.-Based Businesswoman in Alleged China Truck Procurement Fraud […]