By Micah Jonah
January 15, 2026
The Economic and Financial Crimes Commission has recovered N64.8 million, handed it over to a businessman who was allegedly defrauded in a failed petroleum product supply deal.
The Acting Zonal Director of the EFCC Benin Zonal Directorate, Deputy Commander of the EFCC, DCE Saad Hanafi Saad, on Tuesday January 13, 2026, presented a bank draft of N64,800,000 to Uzoechina Vincent Anene, funds recovered by operatives of the Commission on his behalf.
Anene, 59, a dealer in petroleum products, had petitioned the Commission that in October 2024, one Adegboyega Adebanbo allegedly defrauded him of N65,700,000 under the pretense that he could supply 90,000 litres of naphtha.
After the transfer of the money, the products were not supplied, all efforts to recover the funds reportedly failed.
Investigations by the EFCC revealed that Adebanbo had traveled out of the country but transferred the sum of N64,800,000 to the account of the wife of his business associate, Ekundayo Akinseye, who then moved the funds through other accounts. The Commission traced the transactions across the various accounts and successfully recovered the money.
While presenting the draft, the Acting Zonal Director cautioned Nigerians to be vigilant and avoid falling victim to fraudsters. He said the Commission would continue to discharge its responsibilities professionally and ensure that fraudsters are brought to justice, warning that some individuals who parade themselves as businessmen and suppliers are in fact criminals.
Anene, who expressed deep appreciation, commended the EFCC for what he described as professionalism and dedication displayed by its operatives, saying their conduct was worthy of emulation.
The Commission confirmed that the suspects involved in the case have been charged to court.
