The Economic and Financial Crimes Commission (EFCC) has arraigned a businessman, Taiwo Sunday, over an alleged ₦123 million fraud before the Oyo State High Court in Ibadan.
The arraignment on Wednesday is coming after the businessman was docked on Tuesday by the Ilorin Zonal Directorate of the EFCC on a two-count charge bordering on obtaining money under false pretences.
The case is being heard by Justice Kareem Adedokun.
According to the anti-graft agency, the alleged offence violates provisions of the Criminal Code Law of Oyo State.
The EFCC told the court that the defendant’s troubles began following a petition filed by Oluwarotimi John.
Read Also:
- EFCC re-arraigns Bauchi accountant-general, BDC operator in N1.63bn fraud case
- Police, EFCC rescue 14 abducted passengers from sea pirates along Calabar–Oron waterways
- EFCC arrests suspected fake lawyer in Lagos over alleged forged Bar Association seal
The petitioner alleged that in April 2024, Sunday approached him with a business proposal to supply motorcycles, claiming he had exclusive dealership arrangements with major distributors in Lagos and parts of northern Nigeria.
Based on the representation, the complainant reportedly paid a total sum of ₦123,050,000 into the account of the defendant’s company, Yemsund Enterprise.
However, the EFCC said the motorcycles were never delivered, and all efforts to recover the funds proved unsuccessful.
The case is expected to proceed as the court examines the charges and evidence presented by the prosecution.
The EFCC has reiterated its commitment to prosecuting financial crimes and protecting Nigerians from fraudulent schemes.
