EFCC Returns $104,950 to US-Based Businesswoman

By Adebola Muili

The Economic and Financial Crimes Commission (EFCC) has recovered and returned $104,950 to an American-based businesswoman, Mrs Adeshola Oshilaja, following an investigation into a suspected procurement fraud involving her business associate, Babatunde Samuel Akinsanmi.

The Commission, in a statement made available to journalists on Saturday, October 10, 2026, said it handed over the outstanding $56,000 to Oshilaja on Friday, October 9, at its Lagos Zonal Directorate 1, Ikoyi, Lagos, bringing the total amount recovered to $104,950.

The latest recovery followed an earlier payment of $48,950 made directly to Oshilaja by Akinsanmi, who allegedly failed to account for funds provided for the procurement of 10 dump trucks from China.

Oshilaja had petitioned the EFCC over the transaction, alleging that she transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on the instructions of Akinsanmi, her business associate and family friend.

According to the Commission, its investigation revealed that the parties entered into a written agreement on July 25, 2023, under which Akinsanmi acknowledged receiving the money 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 the vehicles for business purposes without remitting the proceeds to her.

The EFCC said it recovered the full $104,950, with $48,950 paid to Oshilaja earlier and the remaining $56,000 recovered in cash and handed over to her at the Commission’s Lagos office.

Speaking at the handover ceremony, the Acting Zonal Director of the Directorate, Assistant Commander of the EFCC, Adebayo Adeniyi, represented by the Head of Public Affairs, Deputy Commander of the EFCC, Ayo Oyewole, said the recovery demonstrated the Commission’s commitment to ensuring that recovered funds and assets were returned to their rightful owners in accordance with due process.

He added that the EFCC would continue to investigate alleged financial crimes and pursue appropriate restitution for victims.

Oshilaja expressed gratitude to the Commission for its efforts, saying she was pleased with the recovery and the professionalism displayed in handling the case.

“I am so happy and grateful for all the effort the EFCC has put towards the recovery of this money. I am a testament to what the EFCC is doing in Nigeria, and I can always rely on the fact that you are really working hard. May God bless you all,” she said.