The Economic and Financial Crimes Commission (EFCC) has recovered $104,950 for a US based Nigerian businesswoman, Mrs Adeshola Oshilaja, in a suspected procurement fraud case.

The Commission handed over the outstanding $56,000 to Oshilaja on Friday, October 9, at its Lagos Zonal Directorate 1, Ikoyi, bringing the total amount recovered to $104,950. An earlier payment of $48,950 had been made directly to her by the defendant, Babatunde Samuel Akinsanmi.

The recovery followed a petition filed by Oshilaja over the alleged failure of Akinsanmi, her business associate and family friend, to account for funds provided for the procurement of 10 dump trucks from China.

According to the petition, Oshilaja transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on the instructions of Akinsanmi.

EFCC investigation revealed that both parties entered into a written agreement on July 25, 2023, under which Akinsanmi acknowledged receiving the sum for the procurement of the trucks and undertook to refund the amount on or before December 31, 2023.

However, six of the trucks were subsequently delivered to Akinsanmi in Nigeria. Oshilaja alleged that he retained and used the trucks for business purposes without remitting the proceeds to her.

Speaking at the handover, the Acting Zonal Director, Lagos Zonal Directorate 1, Adebayo Adeniyi, represented by the Head of Public Affairs, Ayo Oyewole, said the recovery reflects the Commission’s commitment to returning recovered funds and assets to their rightful owners in line with due process.

Expressing appreciation, Oshilaja commended the EFCC for its efforts, saying the recovery is a testament to the Commission’s work in fighting financial crimes.