Tunde Bakare
The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC), Lagos, on Thursday, August 6, 2026, handed over the sum of N125,000,000.00 (One Hundred and Twenty-five Million Naira) to the victim of an alleged land fraud, Akinsewa Akiode.
The recovery of the funds, handed over in Sterling Bank drafts, followed a petition submitted by Akiode, who alleged that one Olufemi Omoola Fashehun defrauded him of N125,000,000.00 (One Hundred and Twenty-five Million Naira) under the pretext of selling to him a parcel of land measuring 550 square metres, located at No. 10, Kudirat Abiola Way, Oregun, Lagos State.
The petitioner further alleged that the suspect deliberately concealed the existence of a pending court case affecting the property, which has been before the court since 2011.
Investigation revealed that despite having been served with several court processes, including injunctions restraining him from carrying out any form of construction on the property, the suspect failed to disclose this material fact before collecting the purchase money.
Consequently, the petitioner lost both the property and the developments under construction on the land, prompting him to petition the Commission.
Upon the conclusion of investigations, the Commission recovered N125,000,000.00 (One Hundred and Twenty-five Million Naira) from the suspect and made restitution to the petitioner by presenting him with the recovered funds through Sterling Bank drafts.
Speaking during the handover, the Acting Zonal Director, Lagos Zonal Directorate 2, EFCC, Ikoyi, Lagos, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, reiterated the Commission’s commitment to investigating economic and financial crimes, recovering the proceeds of crime, and ensuring that victims of fraud are restituted whenever necessary.