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EFCC Hands Over Recovered ₦107m to Property Fraud Victim in Lagos

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The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, Ikoyi, has handed over bank drafts worth ₦107,000,000 (One Hundred and Seven Million Naira) to a victim of property fraud through his counsel, Babatunde Oni, SAN.

The recovery followed a petition received by the Commission from the petitioner through his legal representative, Babatunde Oni, SAN & Co., alleging obtaining money by false pretence, conspiracy and extortion involving some individuals identified as Adeola Ibrahim, Bolanle Bamgbose and others.

According to the petitioner, sometime in October 2024, he developed an interest in purchasing a parcel of land situated at Iya Oloye Crescent, off Ikorodu Road, Lagos State, for ₦150,000,000 (One Hundred and Fifty Million Naira), after the property was introduced to him by Olalekan Kazeem and another individual identified as Alfa.

The petitioner subsequently engaged the services of Bolanle Bamgbose & Associates, a law firm represented in the transaction by Ibrahim and its principal, Bamgbose, to conduct due diligence and handle the necessary dealings with the purported representative of the seller, identified simply as Monsuru, popularly known as “Area”.

In the course of the transaction, the petitioner paid various sums connected to the proposed acquisition, including ₦163,000,000 (One Hundred and Sixty-Three Million Naira) to the law firm; ₦3,000,000 (Three Million Naira) to the agent, Olalekan Kazeem; and ₦1,575,000 (One Million, Five Hundred and Seventy-Five Thousand Naira) to a surveyor.

Investigation revealed that the total amount allegedly paid by the petitioner in connection with the transaction amounted to ₦167,575,000 (One Hundred and Sixty-Seven Million, Five Hundred and Seventy-Five Thousand Naira).

However, after making the payments, the petitioner was unable to take possession of the property due to a dispute over the land.

Subsequent efforts by him to either secure possession of the property or obtain a refund proved unsuccessful.

During the handover of the drafts on Wednesday, September 30, 2026, the Acting Zonal Director, Lagos Zonal Directorate 2, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, reiterated the Commission’s commitment to ensuring that victims of financial crimes receive justice and that funds linked to fraudulent transactions are recovered and returned to their rightful owners where established.

The recovery of the ₦107 million handed over to the petitioner forms part of the Commission’s ongoing efforts to recover the ₦167,575,000 allegedly lost in the transaction.

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EFCC

FBI Commends Olukoyede, EFCC for Support in Tackling Sextortion, Cybercrime

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The Federal Bureau of Investigation (FBI) has commended the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, and the Commission for their efforts and vital role in Operation Artemis, a joint international effort to disrupt financially motivated sextortion networks targeting minors.

The commendation was conveyed in a letter signed by FBI Director Kash Patel, who praised the Commission for its collaboration with the Bureau in the arrest and extradition of suspects facing federal charges in the United States.

In the letter addressed to Olukoyede, Patel acknowledged the Commission’s contribution to the operation, stating that “the Economic and Financial Crimes Commission, EFCC, has played a vital role in Operation Artemis, a joint effort focused on disrupting financially motivated sextortion rings targeting juveniles.”

He said that, under Olukoyede’s leadership, the EFCC designated personnel to support the investigations and facilitate the transfer of suspects from Nigeria to face prosecution in the United States.

Specifically, the FBI Director commended the EFCC for apprehending Adebola Festus Adekunle and Mudashiru Afeez Olawale, who were indicted in the United States in 2023 over allegations relating to the sexual exploitation and extortion of minors.

The two suspects were extradited to the United States in August 2026, with the EFCC facilitating the process following investigations and extradition proceedings. They are facing federal charges relating to sexual exploitation in cases involving the deaths of minors.

Patel noted that the successful outcome of the cases would not have been possible without the EFCC’s assistance and commitment to international law enforcement cooperation.

“The successful outcome of these cases would not have been possible without your assistance and dedication to international law enforcement collaboration,” he said.

The FBI Director further expressed appreciation to Olukoyede and the Commission for their commitment to justice and continued cooperation, while expressing optimism about strengthening the partnership between both agencies.

“Please accept my sincere appreciation for your commitment to justice and steadfast cooperation. I look forward to the continued partnership with the EFCC,” he stated in the letter.

The extradition of Adekunle and Olawale followed FBI investigations into separate sextortion schemes targeting male minors in the United States. The investigations linked the alleged activities to two teenage victims who died by suicide after being subjected to online sexual exploitation and extortion.

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EFCC

EFCC Photo News

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The Japanese Ambassador-Designate to Nigeria, His Excellency, Hideo Suzuki Paid a Courtesy Visit to the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede in his office today, October 28, 2026. He was accompanied on the visit by First Secretary, Security, Yuji Murakami and Senior Information Analyst, Dogara Ankut.

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EFCC

₦2.7bn Fraud: Court Jails Former Banker for 39 Years

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Justice O. O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, on Tuesday, October 27, 2026, sentenced a former banker, Christopher Jackson Edeh, to a total of 39 years’ imprisonment for his involvement in a ₦2.7 billion fraud prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).

Edeh, who was arraigned on February 28, 2024, faced nine counts bordering on fraudulent false accounting and unauthorised access to a computer system.

The charges alleged that he altered the bank account details of several customers and government-related entities, including the Kano State Government Power Intervention Fund, NNPC Trading Limited, Stallion Vision Ltd, the Lagos State Government Blue Line, the State Contributory Pension Account and Chukwuemeka Odumegwu Ojukwu University, with intent to defraud.

During the trial, prosecuting counsel, Z. B. Atiku, called three witnesses and tendered several documents in evidence to establish the case against the defendant. The defence, in turn, called one witness.

In her judgment, Justice Abike-Fadipe held that the prosecution had proved its case beyond reasonable doubt and consequently convicted Edeh on all nine counts.

The court sentenced him to five years’ imprisonment without an option of fine on each of counts one to seven, bordering on fraudulent false accounting, and two years’ imprisonment without an option of fine on each of counts eight and nine, relating to unauthorised access to a computer system with intent to facilitate the commission of crimes.

The court ordered that all the sentences run concurrently.

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