The Economic and Financial Crimes Commission (EFCC) has handed over N125 million to Lagos businessman Akinsewa Akiode. This sum was retrieved from a suspect involved in a land acquisition case. Dele Oyewale, the agency’s spokesperson, stated that the funds were turned over to Akiode by the Lagos Zonal Directorate 2 in Ikoyi this Thursday.
Akiode had initially petitioned the commission, claiming he paid Olufemi Fashehun N125 million for a 550-square-meter plot at 10, Kudirat Abiola Way, Oregun. After the payment, the businessman learned that the property had been locked in a legal battle since 2011, a detail Fashehun reportedly omitted. Investigations confirmed that Fashehun ignored multiple court injunctions against developing the site while accepting the payment. Consequently, Akiode lost both the land and his construction investments. The EFCC successfully recovered the total amount via Sterling Bank drafts.
This recovery follows recent agency efforts, including a N108 million refund related to Greenwich Planet Sun King Nigeria Limited and various asset returns in Ibadan. Bawa Kaltungo, acting director of the Lagos Zonal Directorate 2, emphasized that the commission remains dedicated to tracking financial crimes and securing restitution for victims. It remains unclear if criminal charges against Fashehun are pending.
