EFCC Arraigns Man for Alleged N13.6m Property Fraud In Ibadan
The Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Directorate, on Wednesday, August 19, 2026 arraigned a man, Yusuf Ademola Oyepeju before Justice Olusola Adetujoye of the Oyo State High Court, Ibadan, Oyo State.
Oyepeju, alongside his two companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited were arraigned on a six-count charge bordering on forgery, uttering of documents, stealing by conversion and obtaining money under false pretence to the tune of N13, 697, 900.00 (Thirteen Million, Six Hundred and Ninety-seven Thousand, Nine Hundred Naira).
The charges alleged that Oyepeju defrauded an Islamic cleric, a Dubai-based Nigerian, Fasasi Amidu Bayonle of his monies and properties, whom he met on a Whatsapp group created for Muslims and for spreading Islamic teachings, as both were tutors on the Whatsapp group.
One of the counts reads: “That you, Yusuf Ademola Oyepeju, Alwajeez International Nigeria Limited and AIN Homes And Properties Limited between February and August, 2020, within the jurisdiction of this Honourable Court, converted to your own personal use, the sum of N8, 697, 900.00 (Eight Million, Six Hundred and Ninety-seven Thousand, Nine Hundred Naira), property of one Fasasi Amidu Bayonle, thereby committed an offence of stealing by conversion contrary to Section 390(9) Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.”
The defendant pleaded “not guilty” to the charges when they were read to him.
Following the defendant’s plea, prosecution counsel, Sanusi Galadanchi, asked the court for a date to commence trial and prayed that he be remanded in a Correctional facility.
However, counsel to the defendant, B. Ajibola informed the court that an application for bail has been filed and served on the prosecution, praying the court to admit his client to bail.
Justice Adetujoye subsequently adjourned the matter for hearing of bail application and remanded the defendant in Agodi Correctional Centre.
Oyepeju’s journey to the Correctional Centre began sometime in 2018, when he allegedly sought for financial assistance from Bayonle to secure an accommodation for him and his newly married wife in Ibadan, Oyo State and Bayonle, in turn, promised to raise some money for the accommodation but offered Oyepeju the temporary use of his house he lived in Ibadan before relocating to the United Arab Emirate, located at No. 3, road 7, Ikumapayi area of Olodo, Ibadan, Oyo State, which was unoccupied, whilst he started raising the money.
The defendant who had also presented himself to his victim as a property developer took possession of the property and further convinced Bayonle to send money to him, so he could help him purchase land and build another house for him in Ibadan and without doubt, Bayonle sent the sum of N8, 697, 900.00 (Eight Million, Six Hundred and Ninety-seven Thousand, Nine Hundred Naira) to the defendant to purchase and develop of the land.
Few months later, it was discovered that the defendant allegedly forged a document of “Transfer of Agreement” between him and his victim, sold the house he was occupying temporarily to his fictitious companies and converted the proceeds for his personal use. Also, investigations revealed that the defendant regened on his promise of purchasing land and developing it on behalf of the victim, having received the money.
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