EFCC arraigns man over N13.6m property fraud in Oyo

Yusuf Oyepeju, along with his companies Alwajeez International Nigeria Limited and AIN Homes and Property Limited, faces six charges at the Oyo State High Court in Ibadan. The Economic and Financial Crimes Commission (EFCC) accuses Oyepeju of forgery, uttering documents, stealing by conversion, and obtaining money under false pretenses, totaling N13,697,900.00.

The alleged fraud targeted an Islamic cleric, Fasasi Bayonle, a Nigerian based in Dubai. Oyepeju reportedly met Bayonle through a WhatsApp group for Muslims where they both served as tutors. The charges detail how Oyepeju allegedly converted N8,697,900.00 of Bayonle's money for his personal use between February and August 2020.

Oyepeju pleaded not guilty to the charges when they were read. The prosecution requested a trial date and for the defendant to be remanded. However, Oyepeju's counsel filed a bail application, which the court will now hear.

Justice Olusola Adetujoye ordered Oyepeju's remand in Agodi Correctional Centre pending the bail application hearing. The EFCC stated that Oyepeju's alleged deception began in 2018 when he sought financial assistance from Bayonle for accommodation, eventually convincing him to send money for land purchase and house construction while Oyepeju presented himself as a property developer.

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That you, Yusuf Oyepeju, Alwajeez International Nigeria Limited and AIN Homes And Properties Limited between February and August, 2020, within the jurisdiction of this Hon Court, converted to your own personal use, the sum of N8, 697, 900.00, property of one Fasasi Bayonle, thereby committed an offence of stealing by conversion contrary to Section 390(9) Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.