KEY POINTS
- EFCC recovered the full $104,950 for Oshilaja.
- The dispute involved funds for 10 dump trucks from China.
- The outstanding $56,000 was handed over on October 9, 2026.
The Economic and Financial Crimes Commission, EFCC, has recovered $104,950 for a US-based Nigerian businesswoman, Mrs Adeshola Oshilaja, following a dispute over funds intended for the purchase of 10 dump trucks from China.
The commission said it handed over the outstanding $56,000 to Oshilaja on Friday, October 9, 2026, at its Lagos Zonal Directorate 1 in Ikoyi, completing the recovery of the amount involved in the complaint.
The recovery followed an earlier payment of $48,950 made directly to Oshilaja by Babatunde Samuel Akinsanmi, her business associate and family friend, who was accused of failing to account for the funds.
According to the anti-graft agency, the investigation began after Oshilaja petitioned the commission over the alleged failure of Akinsanmi to account for money provided for the procurement of 10 dump trucks from China.
The EFCC said it recovered the outstanding $56,000 in cash and handed it over to the businesswoman, bringing the total amount recovered to $104,950.
At the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 1, Assistant Commander of the EFCC, Adebayo Adeniyi, was represented by the Head of Public Affairs, Deputy Commander Ayo Oyewole.
Adeniyi reaffirmed the commission’s commitment to investigating financial crimes, recovering proceeds of alleged wrongdoing and ensuring that victims receive restitution through due process.
Dispute Involved Purchase of 10 Dump Trucks
The EFCC said 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 Akinsanmi’s instructions to facilitate the purchase of the trucks.
The commission’s investigation established that both parties entered into a written agreement on July 25, 2023. Under the agreement, Akinsanmi acknowledged receiving $104,950 for the transaction and undertook to refund the money on or before December 31, 2023.
However, the transaction reportedly became contentious 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. She subsequently petitioned the EFCC to intervene in the matter.
The EFCC said the recovery was completed through two payments. Akinsanmi initially paid $48,950 directly to Oshilaja, while the commission recovered the remaining $56,000 and handed it over to her.
The total recovery of $104,950 represents the full amount involved in the complaint.
The commission said the recovery was part of its efforts to ensure that victims of financial crimes receive their money back in accordance with established procedures.
The allegations against Akinsanmi were presented as part of the EFCC’s account of the investigation.
