27/08/2026
EFCC Arraigns Ibadan Man Over Alleged N13.7m Property Fraud, ‘Sold House Entrusted to Him in ibadan.
The Economic and Financial Crimes Commission (EFCC) has arraigned a man, Yusuf Ademola Oyepeju, over an alleged N13.7 million property fraud involving a Dubai-based Nigerian Islamic cleric, Fasasi Amidu Bayonle.
Oyepeju was arraigned alongside two companies allegedly linked to him — Alwajeez International Nigeria Limited and AIN Homes and Property Limited — before Justice Olusola Adetujoye of the Oyo State High Court, Ibadan.
According to the EFCC, the defendant faces a six-count charge bordering on forgery, uttering of documents, stealing by conversion and obtaining money under false pretence, involving a total sum of N13,697,900. One of the charges specifically alleges that Oyepeju converted N8,697,900 belonging to Bayonle to his personal use.
The commission alleged that the two men met through a WhatsApp group created for Muslims and the propagation of Islamic teachings, where both reportedly served as tutors.
The EFCC said Oyepeju initially sought financial assistance from Bayonle in 2018 to secure accommodation for himself and his newly married wife in Ibadan.
According to the prosecution, Bayonle instead allowed Oyepeju to temporarily occupy his unoccupied house at Ikumapayi, Olodo, Ibadan, while he worked towards raising money for accommodation.
The defendant, who allegedly presented himself as a property developer, was later accused of persuading Bayonle to send him N8.69 million to purchase land and develop another property for him in Ibadan.
The EFCC further alleged that investigations revealed that Oyepeju subsequently forged a Transfer of Agreement document, purportedly involving the property, and allegedly transferred or sold the house he had been allowed to occupy temporarily to companies linked to him before converting the proceeds for his personal use.
Oyepeju pleaded not guilty to all the charges. Following his plea, EFCC counsel, Sanusi Galadanchi, requested a date for trial and asked the court to remand him in custody, while his counsel, B. Ajibola, informed the court that a bail application had already been filed.
Justice Adetujoye subsequently adjourned the case for the hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre, Ibadan.
The allegations remain before the court, and the defendant is presumed innocent until proven guilty.
