EFCC Arraigns Man Over Alleged N13.7m Property Fraud in Ibadan

The Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Directorate, has arraigned a man, Yusuf Oyepeju, alongside his two companies, over an alleged N13.7 million fraud.

 

Oyepeju, Alwajeez International Nigeria Limited and AIN Homes and Property Limited were arraigned before Justice Olusola Adetujoye of the Oyo State High Court, Ibadan, on a six-count charge bordering on forgery, uttering, stealing by conversion and obtaining money under false pretence.

 

The EFCC said the alleged offences involved N13,697,900 belonging to an Islamic cleric and Dubai-based Nigerian, Fasasi Bayonle.

 

According to the anti-graft agency, Oyepeju met Bayonle through a WhatsApp group created for Muslims and for sharing Islamic teachings, where both served as tutors.

 

The commission alleged that Oyepeju initially sought financial assistance from Bayonle in 2018 to secure accommodation for himself and his newly married wife in Ibadan.

 

Bayonle subsequently allowed him to temporarily occupy his unoccupied house in Olodo, Ibadan, while he raised funds for accommodation.

 

The EFCC alleged that Oyepeju, who presented himself as a property developer, later persuaded Bayonle to send N8,697,900 for the purchase and development of land in Ibadan.

 

The commission further alleged that Oyepeju forged a “Transfer of Agreement” document, sold the house he was temporarily occupying to his companies and converted the proceeds for personal use.

 

Investigators also alleged that he failed to purchase and develop the land as promised after receiving the money.

 

Oyepeju pleaded not guilty to all six counts.

 

Following his plea, prosecution counsel, Sanusi Galadanchi, requested a date for trial and asked the court to remand the defendant in a correctional facility.

 

However, defence counsel, B. Ajibola, told the court that a bail application had been filed and served on the prosecution.

 

Justice Adetujoye subsequently adjourned the matter for hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre.