EFCC Recovers $104,950 for US-Based Businesswoman

The Economic and Financial Crimes Commission (EFCC) has recovered and returned $104,950 to a United States-based Nigerian businesswoman, Mrs Adeshola Oshilaja, following an investigation into a disputed transaction involving the purchase of 10 dump trucks from China.

The commission handed over the outstanding $56,000 to Oshilaja on Friday, October 9, at its Lagos Zonal Directorate 1 office in Ikoyi, completing the recovery of the funds involved in the complaint.

The latest payment followed an earlier repayment of $48,950 made directly to Oshilaja by Babatunde Samuel Akinsanmi, her business associate and family friend, who was accused of failing to account for the money.

According to the EFCC, Oshilaja petitioned the commission after alleging that Akinsanmi had failed to account for funds provided for the procurement of the trucks.

She reportedly transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on Akinsanmi’s instructions.

The commission said its investigation established that both parties entered into a written agreement on July 25, 2023. Under the agreement, Akinsanmi acknowledged receiving the money for the transaction and undertook to refund it on or before December 31, 2023.

However, the transaction became contentious after six of the trucks were delivered to Akinsanmi in Nigeria.

Oshilaja alleged that he retained the vehicles and used them for business operations without remitting the proceeds to her, prompting her to seek the EFCC’s intervention.

At the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 1, Assistant Commander of the EFCC Adebayo Adeniyi, was represented by the Head of Public Affairs, Deputy Commander Ayo Oyewole.

The commission said the recovery reflected its commitment to investigating suspected financial crimes and returning recovered funds to their rightful owners through due process.

With the handover of the outstanding $56,000, the total amount recovered for Oshilaja in the matter stands at $104,950.

The EFCC urged members of the public to report suspected financial misconduct and reaffirmed its commitment to pursuing investigations and facilitating restitution where appropriate.