The Economic and Financial Crimes Commission (EFCC) has handed over an N84 million bank draft to businessman Ifeanyi Innocent Madueke, representing funds recovered during an investigation into an alleged land fraud involving property in Delta State.
The recovered funds were presented by the Acting Zonal Director of the EFCC Benin Zonal Directorate, Deputy Commander of the EFCC (DCE) Sa’ad Hanafi Sa’ad. Reports of the EFCC statement say the presentation took place on Thursday, September 24, 2026.
Key Highlights
- EFCC handed an N84 million bank draft to businessman Ifeanyi Innocent Madueke.
- The funds were recovered during an investigation into an alleged land fraud.
- Madueke reportedly paid N232.8 million for 146 acres of land in Delta State.
- The businessman alleged he could not take possession after completing payment.
- The EFCC said Madueke transferred the funds to the suspect in three tranches.
- The investigation followed a petition from Madueke.
- The EFCC said investigations are continuing.
EFCC Recovers Funds in Delta Land Fraud Investigation
According to reports of the EFCC statement, Madueke, a 42-year-old businessman, purchased 146 acres of land in a community in Delta State for N232.8 million.
The commission said that despite completing payment, Madueke was unable to take possession of the property and efforts to establish ownership were unsuccessful.
Madueke subsequently approached Austine Muanya Okafor, whom he alleged had sold the property to him, seeking a refund. The refund was not made, prompting Madueke to petition the commission.
EFCC Traces Funds Transferred to Suspect
The EFCC said its investigation established that Madueke transferred the funds to the suspect in three tranches.
The commission recovered N84 million and handed it to Madueke through a bank draft. Details of any outstanding balance from the original N232.8 million payment were not disclosed in the statement.
The commission’s recovery follows other reported EFCC investigations into alleged land fraud. In one Abuja case, the EFCC arraigned a man over an alleged N108 million land fraud.
EFCC Warns Against Property Fraud
While presenting the recovered funds, Sa’ad said the EFCC would continue to discharge its responsibilities professionally and with integrity.
He also warned that individuals involved in fraudulent activities would not be allowed to benefit from illicit proceeds.
The EFCC’s intervention highlights the financial risks associated with property transactions where buyers make substantial payments without securing possession or establishing clear ownership.
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Businessman Thanks EFCC After Recovery
Madueke expressed appreciation to the EFCC after receiving the recovered funds.
“I am grateful to the Commission for what they have done. I had lost hope before I came to EFCC. I thank the management and staff for the good work they are doing,” he said.
The EFCC said investigations into the alleged land fraud remain ongoing. Updates are available from the EFCC’s official X account.
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