The Economic and Financial Crimes Commission (EFCC) has arraigned a man, Yusuf Ademola Oyepeju, before the Oyo State High Court in Ibadan over alleged forgery, stealing by conversion and obtaining money under false pretence involving N13.6 million. The EFCC disclosed this in a post on its X page on Thursday,……
The Economic and Financial Crimes Commission (EFCC) has arraigned a man, Yusuf Ademola Oyepeju, before the Oyo State High Court in Ibadan over alleged forgery, stealing by conversion and obtaining money under false pretence involving N13.6 million.
The EFCC disclosed this in a post on its X page on Thursday, saying its Ibadan Zonal Directorate had on August 19, 2026, arraigned Oyepeju alongside his two companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, before Justice Olusola Adetujoye.
The defendants were arraigned on a six-count charge involving alleged forgery, uttering of documents, stealing by conversion and obtaining money under false pretence to the tune of N13,697,900.
According to the anti-graft agency, Oyepeju allegedly defrauded an Islamic cleric and Dubai-based Nigerian, Fasasi Amidu Bayonle, whom he met through a WhatsApp group established for Muslims and the propagation of Islamic teachings.
The EFCC alleged that both men served as tutors on the platform before Oyepeju sought financial assistance from Bayonle in 2018 to secure accommodation for himself and his newly married wife in Ibadan.
The agency said Bayonle offered Oyepeju temporary use of his unoccupied house at No. 3, Road 7, Ikumapayi area of Olodo, Ibadan, while he raised funds for the accommodation.
Oyepeju, who allegedly presented himself as a property developer, subsequently took possession of the property and allegedly persuaded Bayonle to send money for the purchase of land and construction of another house in Ibadan.
The EFCC said Bayonle subsequently transferred N8,697,900 to Oyepeju for the purchase and development of the property.
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The agency alleged that Oyepeju later forged a “Transfer of Agreement” document between himself and Bayonle and sold the house he had been allowed to occupy temporarily to companies allegedly owned by him.
One of the charges read: “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.”
Oyepeju pleaded “not guilty” to all the charges when they were read to him.
Following his plea, EFCC counsel, Sanusi Galadanchi, asked the court to adjourn the matter for trial and sought an order remanding the defendant in a correctional facility.
However, defence counsel, B. Ajibola, told the court that a bail application had been filed and served on the prosecution and urged the court to admit his client to bail.
Justice Adetujoye subsequently adjourned the matter for hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre.
The EFCC said investigations also revealed that Oyepeju allegedly reneged on his promise to purchase land and develop it for Bayonle after receiving the N8.69 million.
The commission added that the defendant allegedly converted the proceeds from the sale of Bayonle’s house for his personal use.
