The Economic and Financial Crimes Commission (EFCC) has handed over N125 million recovered from an alleged land fraud case to the victim, Akinsewa Akiode, in Lagos.
The Lagos Zonal Directorate 2 of the EFCC, Ikoyi, presented the recovered funds to Akiode on Thursday, August 6, 2026, through Sterling Bank drafts following the conclusion of investigations into his petition.
Akiode had petitioned the commission, alleging that Olufemi Omoola Fashehun defrauded him of N125 million after offering to sell him a 550-square-metre parcel of land at No. 10, Kudirat Abiola Way, Oregun, Lagos State.
According to the petitioner, the suspect failed to disclose that the property was the subject of a court case that had been pending since 2011.
The EFCC said its investigation established that the suspect had been served with several court processes, including injunctions restraining construction activities on the property, but allegedly failed to disclose the information before collecting the purchase money.
As a result, Akiode reportedly lost both the property and developments being carried out on the land, prompting him to seek the intervention of the anti-graft agency.
Following the investigation, the EFCC recovered the N125 million from the suspect and returned the funds to Akiode as restitution.
Speaking during the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 2, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, reaffirmed the commission’s commitment to investigating economic and financial crimes and recovering proceeds of crime.
He also stressed the agency’s determination to ensure that victims of fraud receive restitution where appropriate.
The commission said the recovery and subsequent restitution demonstrated its continued efforts to protect members of the public from financial crimes and ensure that victims receive justice.
