The Economic and Financial Crimes Commission (EFCC) has recovered and returned $104,950 to an American-based Nigerian businesswoman, Mrs Adeshola Oshilaja, following an investigation into an alleged procurement fraud involving funds meant for the purchase of 10 dump trucks from China.
The Commission on Friday, October 9, 2026, handed over the outstanding $56,000 to Oshilaja at its Lagos Zonal Directorate 1 in Ikoyi, bringing the total amount recovered to $104,950.
The latest recovery followed an earlier payment of $48,950 made directly to Oshilaja by the defendant, Babatunde Samuel Akinsanmi.
The investigation was initiated following a petition by Oshilaja, who accused Akinsanmi, her business associate and family friend, of failing to account for funds provided for the procurement of the trucks.
According to the petition, Oshilaja transferred $104,950 to two Chinese companies—Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited—on Akinsanmi’s instructions.
The EFCC investigation established that both parties entered into a written agreement on July 25, 2023, under which Akinsanmi acknowledged receiving the funds 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 and deployed the vehicles for business purposes without remitting the proceeds to her.
The Commission subsequently recovered the full $104,950. While $48,950 was initially paid to Oshilaja, the remaining $56,000 was recovered in cash and handed over to her during Friday’s ceremony.
Speaking at the event, the Acting Zonal Director of the Directorate, Assistant Commander of the EFCC, ACE I Adebayo Adeniyi, represented by the Head of Public Affairs, Deputy Commander of the EFCC, DCE Ayo Oyewole, said the recovery demonstrated the Commission’s commitment to ensuring that recovered funds and assets were returned to their rightful owners in line with due process.
He reaffirmed the EFCC’s resolve to pursue investigations into alleged financial crimes and ensure appropriate restitution for victims.
In her response, Oshilaja expressed appreciation to the Commission for its efforts and professionalism in handling the matter.
“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.
The recovery underscores the importance of financial accountability in business transactions and the role of law enforcement agencies in pursuing the recovery of funds allegedly lost through financial misconduct.
