EFCC Returns N64.8 Million to Defrauded Businessman

EFCC Returns N64.8 Million to Defrauded Businessman

The Economic and Financial Crimes Commission (EFCC) has returned N64.8 million to a petroleum dealer defrauded in a transaction gone wrong in 2024.

The Ag. Zonal Director of the EFCC’s Benin Zonal Office, Deputy Commander DCE Sa’ad Hanafi Sa’ad, handed over the recovered funds on Tuesday, January 13, 2026, to 59-year-old Uzoechina Vincent Anene.

Anene had claimed that he was defrauded of N65.7 million by Adegboyega Adebanbo, who promised to supply 90,000 litres of Neptha but failed to deliver the product after receiving the payment.

Investigations by the EFCC revealed that Adebanbo had left the country and transferred the bulk of the money to the account of his associate’s wife, Ekundayo Akinseye, who subsequently moved the funds through multiple accounts.

EFCC operatives were able to trace and recover N64.8 million, which was then returned to Anene.

While presenting the funds, DCE Sa’ad advised Nigerians to exercise caution in business dealings to avoid falling victim to fraud. He emphasised that the EFCC remains committed to prosecuting fraudsters and safeguarding citizens’ investments.

Anene expressed gratitude to the Commission, praising the operatives’ professionalism and dedication. “Your character is worthy of emulation,” he said.

The suspects linked to the case have been charged to court, as the EFCC continues its efforts to combat economic crimes across the country.