Tunde Bakare
The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, June 18, 2025, arraigned a company, Green Eagles Agri Business Solutions Limited, before Justice C.J. Aneke of the Federal High Court sitting in Ikoyi, Lagos.
The company is being prosecuted on a two – count charge bordering on operating collective investment schemes without a licence by the Central Bank of Nigeria,CBN.
The petitioners, a group of investors, alleged that sometime in 2020 the duo of Taiwo Oluwadahushola and Adetola Adetayo, promoters of Green Eagles Agri Business Solutions Limited, invaded the social media space and other media platforms advertising for investments and 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 N51,680,050 ( Fifty One Million Six Hundred and Eighty Thousand, Fifty Naira) was deposited into Green Eagles Agri Business Solutions Limited’s account at various times.
However, upon expiration of the investment period, investors could not access promoters and directors of the company through any form of communication.
Also, the Commission subsequently received several letters of complaints from some other aggrieved investors.
Investigation revealed that the company was neither registered by the Central Bank of Nigeria, CBN, nor the Security and Exchange Commission, SEC, to carry out capital market operations or collect investments.
One of the counts reads: “That you, GREEN EAGLES AGRIBUSINESS SOLUTIONS LTD., within 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 Sections 57(5) of the same Act.”
A “not guilty” 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 till November 4, 2025 for the commencement of trial.