EFCC gives back N107m from land fraud to Lagos victim

The Economic and Financial Crimes Commission (EFCC) has returned N107 million recovered from a land fraud case to a Lagos resident. The man reached out to the EFCC after he could not get the property he paid for.

On Monday, the agency's spokesperson, Dele Oyewale, said they handed over the money in bank drafts to the victim through his lawyer, Babatunde Oni, a Senior Advocate of Nigeria (SAN).

The handover took place at the EFCC's Lagos Zonal Directorate 2 office in Ikoyi, Lagos, on September 30.

According to the statement, the victim claimed he was cheated in a deal involving Adeola Ibrahim, Bolanle Bamgbose, and others.

The EFCC reported that the victim showed interest in a piece of land on Iya Oloye Crescent, off Ikorodu Road, Lagos, in October 2024. He was introduced to the land by Olalekan Kazeem and another person called Alfa.

The land was priced at N150 million. The victim then hired Bolanle Bamgbose & Associates to check the land and deal with a supposed seller's representative named Monsuru, who is also known as "Area."

However, the total amount he paid was more than what was originally agreed. The EFCC stated that the victim paid N163 million to the law firm, N3 million to Kazeem, the agent, and N1.575 million to a surveyor.

In total, these payments added up to N167.575 million. Unfortunately, the victim could not take possession of the land due to a dispute.

He tried to get his money back or take the land, but was unsuccessful, according to the EFCC. He then petitioned the commission through Babatunde Oni SAN & Co., claiming he was a victim of fraud, conspiracy, and extortion.

The EFCC's investigation led to the recovery of N107 million, which was given back to the victim on September 30. This amount is about two-thirds of the N167.575 million he allegedly paid in connection with the deal. There is still N60.575 million that has not been recovered.

During the handover, the Acting Zonal Director of the Lagos Zonal Directorate 2, Bawa Kaltungo, said the commission will keep working to recover money linked to financial crimes and return it to the rightful owners.

The EFCC said this investigation is part of their efforts to tackle suspected land and property fraud.