The Economic and Financial Crimes Commission (EFCC) has recovered $104,950 for an American-based Nigerian businesswoman, Mrs Adeshola Oshilaja, following an investigation into an alleged fraud involving funds meant for the procurement of 10 dump trucks from China.
The commission disclosed that it handed over the outstanding $56,000 to Oshilaja on Friday, October 9, 2026, at its Lagos Zonal Directorate 1, Ikoyi, bringing the total amount recovered in the case to $104,950.
The latest recovery followed an earlier payment of $48,950 made directly to Oshilaja by the defendant, Babatunde Samuel Akinsanmi.
According to the EFCC, the investigation began after Oshilaja petitioned the commission over the alleged failure of Akinsanmi, her business associate and family friend, to account for funds provided for the purchase of the trucks.
The commission said the recovery and handover formed part of its efforts to ensure that victims of financial crimes received restitution in accordance with due process.
Speaking at the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 1, Assistant Commander of the EFCC, Adebayo Adeniyi, represented by the Head of Public Affairs, Deputy Commander of the EFCC, Ayo Oyewole, reaffirmed the commission’s commitment to recovering proceeds of financial crimes and returning funds to their rightful owners.
He said the EFCC would continue to investigate allegations of financial misconduct while pursuing appropriate restitution for victims.
According to the commission, Oshilaja alleged in her petition that she transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on the instructions of Akinsanmi for the procurement of 10 dump trucks.
The EFCC said its investigation established that the parties entered into a written agreement on July 25, 2023, under which Akinsanmi acknowledged receiving $104,950 for the transaction and undertook to refund the amount on or before December 31, 2023.
However, the transaction subsequently became the subject of a dispute after six of the trucks were delivered to Akinsanmi in Nigeria.
Oshilaja alleged that Akinsanmi retained the vehicles and used them for business purposes without remitting the proceeds to her, prompting her to petition the anti-graft agency.
The commission subsequently investigated the complaint and recovered the full amount of $104,950.
The EFCC said $48,950 was initially paid to Oshilaja by Akinsanmi, while the remaining $56,000 was recovered in cash by the commission and handed over to the businesswoman on Friday.
The handover brought the total recovery in the matter to the full amount involved in the complaint.
