The Economic and Financial Crimes Commission (EFCC) has recovered the sum of N64.8 million for a petroleum products dealer, Uzoechina Vincent Anene, who was allegedly defrauded in a failed business transaction.
The recovery draft was handed over on Tuesday, January 13, 2026, by the Acting Zonal Director of the EFCC, Benin Zonal Directorate, Deputy Commander of the EFCC (DCE) Sa’ad Hanafi Sa’ad, at the Commission’s office in Benin City.
Anene, 59, had petitioned the EFCC, alleging that in October 2024, one Adegboyega Adebanbo defrauded him of N65.7 million under the pretence of supplying 90,000 litres of Naphtha (condensate). According to the petition, after the money was transferred, the product was never supplied, and all efforts to recover the funds proved unsuccessful.
Investigations by the Commission revealed that Adebanbo had travelled out of the country but transferred N64.8 million to the account of the wife of his business associate, Ekundayo Akinseye, who subsequently moved the funds to other accounts. EFCC operatives traced the transactions, identified the accounts involved and successfully recovered the money.
While presenting the bank draft to the petitioner, DCE Sa’ad cautioned Nigerians to be vigilant in business dealings to avoid falling prey to fraudsters.
“The Commission will continue to discharge its responsibilities professionally and bring fraudsters to book,” he said. “We also use this opportunity to caution Nigerians to be alert to fraudsters who parade themselves as businessmen and suppliers of products. People should be careful of them because some of them are fraudsters.”
An elated Anene expressed appreciation to the EFCC for its swift intervention and professionalism. “I was dazzled by the professionalism exhibited by operatives of the Commission,” he said. “Your character is worthy of emulation.”
The EFCC disclosed that the suspects involved in the case have been charged in court.
