EFCC ARRAIGNS BUSINESSMAN OVER ALLEGED N123M MOTORCYCLE SUPPLY FRAUD

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By Aishat Momoh. O.

The Economic and Financial Crimes Commission has arraigned a businessman, Taiwo Sunday, over an alleged N123 million fraud linked to a motorcycle supply deal.

Sunday was arraigned by the Ilorin Zonal Directorate of the EFCC before Justice Kareem Adedokun of the Oyo State High Court on a two-count charge bordering on fraud.

According to a statement issued by the commission on Wednesday, the alleged offence is contrary to and punishable under Section 390 of the Criminal Code Law of Oyo State 2000.

The anti-graft agency said the case originated from a petition filed by one Oluwarotimi John over an alleged fraudulent business transaction.

The EFCC alleged that in April 2024, Sunday approached the complainant with a proposal to supply motorcycles, claiming he had exclusive dealership arrangements with major distributors in Lagos and parts of northern Nigeria.

Based on the agreement, the petitioner reportedly transferred N123,050,000 into the account of Sunday’s company, Yemsund Enterprise.

However, the commission said the motorcycles were neither supplied nor was the money refunded to the complainant.

“The Ilorin Zonal Directorate of the EFCC, on Tuesday, May 4, 2026, arraigned a businessman, Taiwo Sunday, on a two-count charge of alleged fraud to the tune of N123 million,” the statement read in part.

The commission added that investigations revealed the transaction was allegedly carried out under false pretences.

The matter was subsequently brought before the court for prosecution.