EFCC Recovers N64.8m, Returns Funds to Businessman
The Economic and Financial Crimes Commission (EFCC) has recovered and handed over N64.8 million to a businessman, Uzoechina Vincent Anene, following an investigation into a petroleum products scam.
The Acting Zonal Director of the EFCC, Benin Zonal Directorate, DCE Sa’ad Hanafi Sa’ad, on Tuesday, January 13, 2026, presented the bank draft to Anene, a 59-year-old petroleum products dealer.
Anene had petitioned the Commission in October 2024, alleging that one Adegboyega Adebanbo defrauded him of N65.7 million under the pretext of supplying 90,000 litres of naphtha (condensate). After the payment was made, the product was never supplied, and efforts to recover the money failed.
EFCC investigations 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 further moved the funds through multiple accounts. The Commission traced the transactions and successfully recovered the money.
While handing over the draft, Sa’ad cautioned Nigerians to be vigilant against fraudsters posing as businessmen and suppliers, assuring that the EFCC would continue to carry out its mandate professionally and bring offenders to justice.
A visibly elated Anene commended the EFCC for its intervention, describing the operatives’ conduct as highly professional and worthy of emulation.
The suspects have been charged to court.
