The Economic and Financial Crimes Commission (EFCC) has recovered the sum of N64.8 million and handed it over to a businessman, Uzoechina Vincent Anene, in Benin.
The funds were presented on Tuesday, January 13, 2026, by the Acting Zonal Director of the EFCC’s Benin Zonal Directorate, Deputy Commander of the EFCC, DCE Sa’ad Hanafi Sa’ad.
Anene, a 59-year-old petroleum products dealer, had petitioned the Commission, alleging that in October 2024, one Adegboyega Adebanbo defrauded him of N65.7 million under the guise of supplying 90,000 litres of naphtha (condensate). He explained that after transferring the money, the product was never delivered and all efforts to recover the funds failed.
Investigations by the EFCC revealed that Adebanbo had travelled out of the country but transferred N64.8 million to the bank account of the wife of his business associate, Ekundayo Akinseye. The money was subsequently moved to several other accounts. EFCC operatives traced the transactions, recovered the funds, and returned them to the petitioner.
While handing over the bank draft, Sa’ad cautioned Nigerians to be vigilant to avoid falling prey to fraudsters. He assured the public that the Commission would continue to carry out its duties professionally and ensure that perpetrators of financial crimes are brought to justice.
Expressing his gratitude, Anene commended the EFCC for its swift intervention and professionalism, describing the conduct of the operatives as worthy of emulation.
The suspects involved in the case have been charged to court.
