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EFCC Recovers $104,950 Fraud Proceeds for US-Based Businesswoman in Lagos
Nigeria's anti-graft agency handed over the outstanding $56,000 in cash in Lagos on Oct 9, completing recovery of funds meant for dump-truck procurement from China.
Why it matters
Nigeria's Economic and Financial Crimes Commission (EFCC) has recovered a total of $104,950 in a suspected procurement fraud case and returned it to a US-based Nigerian businesswoman — one of the agency's larger recent recoveries in Lagos.
The case
On Friday, Oct 9, 2026, the EFCC handed over the outstanding $56,000 in cash to Adeshola Oshilaja at its Lagos Zonal Directorate 1 in Ikoyi. The defendant, Babatunde Samuel Akinsanmi, had earlier paid her $48,950 directly, bringing the total recovery to $104,950.
The case began when Oshilaja petitioned the EFCC over her business associate and family friend Akinsanmi's alleged failure to account for funds provided for the procurement of 10 dump trucks from China. She said she transferred $104,950 to two Chinese companies — Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited — on Akinsanmi's instructions.
The EFCC's investigation found both parties signed a written agreement on July 25, 2023, under which Akinsanmi acknowledged receiving the $104,950 and undertook to refund it on or before December 31, 2023. Six of the trucks were later delivered to Akinsanmi in Nigeria; Oshilaja alleged he retained and used them for business without remitting the proceeds to her.
What next
The commission said the full sum has now been recovered. The case highlights the common risk of middlemen diverting funds in cross-border procurements; the EFCC urges traders to keep written agreements and transfer records for large cross-border deals.
Sources: NewsMediang, The Sun Nigeria (2026-10-09)
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