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The Economic and Financial Crimes Commission (EFCC) has handed over bank drafts worth N107 million to a victim of property fraud in Lagos.
The anti-graft commission said its Lagos Zonal Directorate 2, Ikoyi, made the handover to the victim through his counsel, Babatunde Oni, SAN on September 30.
In a Monday statement, the EFCC said 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 N150 million, 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”.
The EFCC said, “In the course of the transaction, the petitioner paid various sums connected to the proposed acquisition, including N163,000,000 (One Hundred and Sixty-Three Million Naira) to the law firm; N3,000,000 (Three Million Naira) to the agent, Olalekan Kazeem; and N1,575,000 (One Million, Five Hundred and Seventy-Five Thousand Naira) to a surveyor.
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“Investigation revealed that the total amount allegedly paid by the petitioner in connection with the transaction amounted to N167,575,000 (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, the Acting Zonal Director, Lagos Zonal Directorate 2, 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 EFCC explained that the recovery of the N107 million handed over to the petitioner forms part of the commission’s ongoing efforts to recover the N167,575,000 allegedly lost in the transaction.
