EFCC ARRAIGNS MAN OVER ALLEGED N13.7M PROPERTY FRAUD IN OYO

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By; Sunmola Ganiyat

The Economic and Financial Crimes Commission, Ibadan Zonal Directorate, has arraigned Yusuf Oyepeju before Justice Olusola Adetujoye of the Oyo State High Court, Ibadan, over an alleged N13.7 million property fraud.

Oyepeju was arraigned alongside his companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, on a six-count charge bordering on forgery, uttering of documents, stealing by conversion and obtaining money under false pretence.

The EFCC Head of Media and Publicity, Dele Oyewale, disclosed this in a statement issued on Wednesday in Ibadan.

According to the commission, Oyepeju allegedly defrauded an Islamic cleric and Dubai-based Nigerian, Fasasi Bayonle, whom he met through a WhatsApp group created for Muslims and Islamic teachings.

One of the charges alleged that Oyepeju and his companies converted N8,697,900 belonging to Bayonle for personal use between February and August 2020.

The defendant pleaded not guilty to all the charges.

Following his plea, prosecution counsel, Sanusi Galadanchi, requested a date for trial and asked the court to remand Oyepeju in a correctional facility.

However, his counsel, B. Ajibola, told the court that a bail application had been filed and served on the prosecution, urging the court to grant his client bail.

Justice Adetujoye subsequently adjourned the case for hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre.

The EFCC said the alleged fraud began in 2018 when Oyepeju sought financial assistance from Bayonle to secure accommodation for himself and his newly married wife in Ibadan.

Bayonle, who had relocated to the United Arab Emirates, reportedly allowed Oyepeju to temporarily occupy his unoccupied house in the Ikumapayi area of Olodo, Ibadan, while he raised funds for accommodation.

The commission said Oyepeju later presented himself as a property developer and persuaded Bayonle to provide money for the purchase and development of land in Ibadan.

Bayonle subsequently transferred N8,697,900 to him for the project, but investigations allegedly revealed that Oyepeju forged a “Transfer of Agreement” document, sold the house he was occupying to companies allegedly owned by him and converted the proceeds for personal use.

The EFCC further alleged that Oyepeju failed to fulfil his promise to purchase and develop land for Bayonle after receiving the money.