The Economic and Financial Crimes Commission (EFCC) has recovered N107 million for a victim of an alleged property fraud in Lagos.
The EFCC Lagos Zonal Directorate 2, Ikoyi, handed over bank drafts worth N107 million to the victim through his counsel, Babatunde Oni, SAN.
The recovery followed a petition submitted to the Commission by the victim through Babatunde Oni SAN & Co., alleging obtaining money by false pretence, conspiracy and extortion involving some individuals identified as Adeola Ibrahim, Bolanle Bamgbose and others.
According to the EFCC, the victim developed an interest in purchasing a parcel of land at Iya Oloye Crescent, off Ikorodu Road, Lagos, for N150 million in October 2024.
The property was reportedly introduced to him by Olalekan Kazeem and another individual identified as Alfa.
The petitioner subsequently engaged Bolanle Bamgbose & Associates, a law firm represented in the transaction by Ibrahim and its principal, Bamgbose, to conduct due diligence and handle dealings with the purported representative of the seller, identified as Monsuru, popularly known as “Area.”
The EFCC said the petitioner paid N163 million to the law firm, N3 million to Kazeem as agent and N1.575 million to a surveyor.
The total amount allegedly paid in connection with the transaction was therefore N167.575 million.
However, the petitioner was unable to take possession of the property following a dispute over the land.
Efforts to secure possession or obtain a refund were also unsuccessful, prompting him to petition the EFCC.
During the handover of the recovered funds on September 30, the Acting Zonal Director of the EFCC Lagos Zonal Directorate 2, ACE I Bawa Usman Kaltungo, reaffirmed the Commission’s commitment to recovering funds linked to financial crimes and returning them to legitimate owners where established.
The Commission said the N107 million recovery forms part of its ongoing efforts to recover the N167.575 million allegedly lost by the petitioner in the transaction.
