EFCC Arraigns Man, Firm Over N7.8m Car Deal Fraud in Ibadan

By Adebola Muili

The Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned Adeoye Gabriel Adewale and his company, De Lukas Global Concept Limited, before the Oyo State High Court, Ibadan, over an alleged N7.8 million car deal fraud.

The defendants were arraigned on Thursday, August 13, 2026, before Justice Olusola Adetujoye on a one-count charge bordering on stealing by conversion to the tune of N7,819,000.

According to the EFCC, Adewale allegedly obtained the money from one Abdulrasaq Awotedo after presenting himself as a car dealer and promising to procure two cars for him.

The anti-graft agency alleged that the defendant used a fake car mart to convince the complainant, after which the N7,819,000 was paid into the First Bank account of his company, De Lukas Global Concept Limited.

The EFCC further alleged that Adewale subsequently converted the money to his personal use instead of using it for the purpose for which it was paid.

The charge stated that Adewale and De Lukas Global Concept Limited, between October 6, 2021, and March 23, 2022, within the jurisdiction of the court, “converted to your own personal use” the sum of N7,819,000 belonging to Awotedo.

The alleged offence, according to the charge, is contrary to Section 390(9) of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.

The defendant pleaded not guilty to the charge.

Following the plea, prosecution counsel, Sanusi Galandachi, prayed the court to adjourn the matter for trial and remand the defendant in a correctional centre.

However, counsel to the defendant, A. Towolawi, informed the court that a bail application had been filed, urging the court to admit his client to bail pending the hearing and determination of the case.

Justice Adetujoye subsequently adjourned the matter for hearing of the bail application and ordered that Adewale be remanded in the Agodi Correctional Centre.

The EFCC had earlier alleged that the proceeds of the transaction were diverted after being paid into the company’s bank account.