EFCC recovers $104,950 for US-based businesswoman in dump truck procurement fraud case

The Economic and Financial Crimes Commission (EFCC) has handed over $56,000 recovered in a suspected procurement fraud case to US-based businesswoman Adeshola Oshilaja, completing the recovery of $104,950 for her, according to a statement by the EFCC monitored by Sahara Reporters.

The handover took place on Friday, October 9, at the commission’s Lagos Zonal Directorate 1 in Ikoyi. “The latest recovery represents the outstanding balance of the funds, following the earlier payment of $48,950 directly to Oshilaja by the defendant, Babatunde Samuel Akinsanmi,” the EFCC stated.

The case began with a petition by Oshilaja over the alleged failure of her business associate and family friend, Akinsanmi, to account for funds meant for 10 dump trucks from China. She said she transferred $104,950 to two Chinese firms, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on his instructions.

The EFCC said the parties signed an agreement on July 25, 2023, in which Akinsanmi acknowledged receiving the money and promised a refund by December 31, 2023. “However, six of the trucks were subsequently delivered to Akinsanmi in Nigeria. Oshilaja alleged that he retained and used the trucks for business purposes without remitting the proceeds to her,” it explained.

Acting Zonal Director Adebayo Adeniyi, represented by Head of Public Affairs Ayo Oyewole, said the recovery underscored the commission’s commitment to returning recovered funds to their rightful owners in accordance with due process, and that it would keep investigating alleged financial crimes while seeking restitution for victims.

Oshilaja praised the commission. “I am so happy and grateful for all the effort the EFCC has put towards the recovery of this money. I am a testament to what the EFCC is doing in Nigeria, and I can always rely on the fact that you are really working hard. May God bless you all,” she noted.