By Sola Ojo, Abuja
The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) arraigned Green Eagles Agribusiness Solutions Limited before Justice C.J. Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, June 18, 2025.
EFCC spokesman, Dele Oyewale, said the company is being prosecuted on a two-count charge bordering on operating collective investment schemes without a licence from the Central Bank of Nigeria (CBN).
He said petitioners, a group of investors, alleged that in 2020, Taiwo Oluwadahunsola and Adetola Adetayo, promoters of Green Eagles Agribusiness Solutions Limited, advertised investment opportunities on social media and other platforms.
The duo allegedly posed as investment moguls who could manage investors’ funds in an agricultural enterprise in exchange for fixed returns at a predetermined rate and duration.
“The petitioners also alleged that a cumulative sum of N51.6 million was deposited into Green Eagles Agribusiness Solutions Limited’s account at various times.
“However, upon expiration of the investment period, investors could not access the promoters and directors of the company through any form of communication.
“The commission subsequently received several letters of complaints from other aggrieved investors.
“Investigation revealed that the company was neither registered by the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC) to carry out capital market operations or collect investments,” Oyewale said.
One of the counts reads: “That you, Green Eagles Agribusiness Solutions Limited, between January and December 2020, in Nigeria, within the Judicial Division of this Honourable Court, being a company incorporated in Nigeria, failed to obtain a valid licence from the Central Bank of Nigeria to carry on your business of investment management, and you thereby committed an offence contrary to Section 57 of the Banks and Other Financial Institutions Act 2020 and punishable under Section 57(5) of the same Act.”
A “not guilty” plea was entered for the company.
Counsel to the prosecution, A.A. Usman, thereafter prayed the court for a trial date.
Justice Aneke adjourned the case until Tuesday, November 4, 2025, for the commencement of the trial, Oyewale said.