The Economic and Financial Crimes Commission (EFCC) has handed over N107 million recovered from an alleged property fraud in Lagos to the victim.
The Lagos Zonal Directorate 2, Ikoyi, handed over bank drafts valued at N107 million to the victim through his counsel, Babatunde Oni, SAN.
The recovery followed a petition filed by the victim through Babatunde Oni SAN & Co., alleging obtaining money by false pretence, conspiracy and extortion involving Adeola Ibrahim, Bolanle Bamgbose and others.
The petitioner said he became interested in purchasing a parcel of land at Iya Oloye Crescent, off Ikorodu Road, Lagos, for N150 million in October 2024 after the property was introduced to him by Olalekan Kazeem and another individual identified as Alfa.
He subsequently engaged Bolanle Bamgbose & Associates to conduct due diligence and handle the transaction with the purported representative of the seller, identified as Monsuru, popularly known as “Area”.
According to the petitioner, he paid N163 million to the law firm, N3 million to the agent, Kazeem, and N1.575 million to a surveyor in connection with the proposed purchase.
The EFCC said its investigation showed that the total amount allegedly paid by the petitioner in the transaction was N167.575 million.
However, the petitioner was unable to take possession of the property after a dispute arose over the land. Efforts to either secure possession or recover his money were also unsuccessful.
Speaking during the handover, the Acting Zonal Director of the Lagos Zonal Directorate 2, Assistant Commander of the EFCC, Bawa Usman Kaltungo, said the commission remained committed to recovering funds linked to fraudulent transactions and returning them to their rightful owners where established.
The EFCC said the N107 million handed over to the victim was part of its ongoing efforts to recover the N167.575 million allegedly lost in the transaction.
