The Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Directorate, has prosecuted a man and his company at the Oyo State High Court in Ibadan for alleged fraud in motor transactions worth N7.8 million.
A statement by the EFCC said the accused, Adeoye Gabriel Adewale and his company, De Lukas Global Concept Limited, were arraigned on Thursday, August 13, 2026 before Justice Olusola Adetujoye.
The agency alleged that Adewale presented himself to Abdulrasaq Awotedo as a car dealer and using a fake car marketplace, convinced him to pay N7,819,000 for the purchase of two cars.
The commission further alleged that the money was paid into the First Bank account of De Lukas Global Concept Limited before Adewale allegedly converted it for his personal use.
Adewale and his company were arraigned on a single count charge close to theft by conversion involving the sum of N7,819,000, said to belong to Awotedo.
The charge reads: “That you, Adeoye Gabriel Adewale and De Lukas Global Concept Limited between October 6, 2021 and March 23, 2022, within the jurisdiction of this Honorable Court, converted for your personal use the sum of N7, 819, 000.00 (Seven Million Eight Hundred and Nineteen Thousand Naira), property of one Abdulrasaq Awotedo and thereby committed an offense of theft by conversion contrary to Section 390 (9) of the Penal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.”
The defendant pleaded not guilty to the charge when the charge was read to him in court.
Following his statement, the EFCC lawyer, Sanusi Galandachi, asked the court to fix a trial date and detain the accused in a correctional centre.
However, the accused’s lawyer, A. Towolawi, informed the court that he had submitted a bail application on behalf of his client.
Towolawi urged the court to admit his client to bail pending the hearing and determination of the charges against him.
Justice Adetujoye later adjourned the case for bail application hearing and ordered the accused to remain in custody at the Agodi Correctional Centre.