The Economic and Financial Crimes Commission (EFCC) has recovered $104,950 for a United States-based Nigerian businesswoman, Adeshola Oshilaja, following an investigation into a disputed transaction involving funds intended for the purchase of 10 dump trucks from China.
The anti-graft agency disclosed that it handed over the outstanding $56,000 to Oshilaja on Friday, October 9, 2026, at its Lagos Zonal Directorate 1 in Ikoyi, Lagos, completing the recovery of the total amount involved in the complaint.
The latest recovery followed an earlier repayment of $48,950 made directly to the businesswoman by Babatunde Samuel Akinsanmi, the defendant in the case.
According to the EFCC, the investigation was initiated after Oshilaja petitioned the commission over the alleged failure of Akinsanmi, her business associate and family friend, to account for money provided for the procurement of the trucks.
In her petition, Oshilaja alleged that she transferred $104,950 to two Chinese companies, Jinan Goneng Power Technology Company and China Howo Heavy Truck Industry Limited, on Akinsanmi’s instructions for the purchase of the vehicles.
The commission said its investigation revealed that both parties entered into a written agreement on July 25, 2023, in which Akinsanmi acknowledged receiving the funds for the transaction and undertook to refund the money on or before December 31, 2023.
However, the deal reportedly became contentious after six of the trucks were delivered to Akinsanmi in Nigeria.
Oshilaja alleged that he retained the vehicles and deployed them for business operations without remitting the proceeds to her, prompting her to seek the intervention of the EFCC.
Speaking at the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 1, Assistant Commander of the EFCC, Adebayo Adeniyi, represented by the Head of Public Affairs, Deputy Commander of the EFCC, Ayo Oyewole, reaffirmed the commission’s commitment to recovering proceeds of financial crimes and ensuring that victims receive restitution.
He said the commission would continue to investigate allegations of financial misconduct and pursue the recovery of funds for their rightful owners in accordance with due process.
With the payment of the outstanding $56,000, the EFCC said the total amount recovered for Oshilaja in the matter now stands at $104,950.
