EFCC Arraigns Estate Developer, 2 Others Over N1.8bn Fraud

The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned a self-acclaimed estate developer, Christopher Oladunjoye, alongside Augustine Agodi and Ovie Goru, before Justice Abimbola Awogboro of the Federal High Court, sitting in Ilorin, Kwara State, over alleged involvement in fraudulent transactions totalling ₦1.8 billion.

The 33-year-old Oladunjoye and his co-defendants were docked on separate charges bordering on possession of funds suspected to be proceeds of unlawful activities, contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.

Preliminary investigations revealed that the defendants allegedly approached the petitioner, Samuel Mustard Benjamin, a Malaysia-based businessman, claiming they had Malaysian Ringgit equivalent to ₦1.8 bn for exchange, and requested that the petitioner transfer the naira equivalent to bank accounts provided by them in Nigeria, while they would pay him in Ringgit.

However, the funds transferred in Malaysia were discovered to be proceeds of unlawful activities and were subsequently frozen by the Malaysian Anti-Fraud Unit after a victim petitioned the authorities.
Further investigation revealed that the defendants used part of the proceeds to acquire properties, including hotels and residential buildings, in Lagos, Owerri (Imo State), and Agbor (Delta State).

From the total fraudulent sum, Oladunjoye allegedly received ₦1.111 bn, Agodi ₦432.163m, while Goru benefited ₦337.3m.

One of the counts against Oladunjoye read: “That you, Christopher Abiola Oladunjoye, sometime in April 2025, within the jurisdiction of this Honourable Court, did take possession of the gross sum of ₦570,000,000 from Onyeka Joseph Okeke in your Account Number 0069113919, domiciled with Access Bank Plc, which sum you knew or reasonably ought to have known formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.”

A similar count against Agodi read: “That you, Augustine Ikechukwu Agodi and Casa Rosso Lounge Night Club, sometime in April 2025, within the jurisdiction of this Honourable Court, did take possession of the gross sum of ₦283,316,000 from Onyeka Joseph Okeke in your Account Number 0069113919, domiciled with Zenith Bank Plc, which sum you knew or reasonably ought to have known formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.”

The charge against Goru stated: “That you, Ovie Goru, sometime in April 2025, within the jurisdiction of this Honourable Court, did take possession of the gross sum of ₦202,600,000 from Onyeka Joseph Okeke in your Account Number 0088188927, domiciled with Access Bank Plc, which sum you knew or reasonably ought to have known formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.”

The defendants pleaded not guilty to their respective charges.

Following their pleas, Barrister Innocent Mbachie and Mustapha Kaigama who represented the commission in the cases urged the court to fix a date for trial to enable the commission to present its case.

However, counsel to the defendants, prayed the court to grant their clients bail, arguing that the offences for which they were charged are bailable.

Justice Awogboro admitted Agodi and Goru to bail in the sum of ₦200m each, with two sureties in like sum. One of the sureties must be a civil servant not below the rank of Permanent Secretary, while the other must own a property within the Government Reserved Area (GRA) of either Abuja or Kwara State.

Thereafter, the court adjourned for ruling on the bail application of Oladunjoye, and for further hearing on the case.