EFCC Charges Estate Developer, Two Others For ₦1.8billion Fraud In Kwara
The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) has arraigned an estate developer, Christopher Oladunjoye, alongside Augustine Agodi and Ovie Goru, before Justice Abimbola Awogboro of the Federal High Court in Ilorin, Kwara State, over alleged fraudulent dealings amounting to ₦1.8 billion.
The 33-year-old Oladunjoye and his co-defendants appeared in court on Thursday, October 23, 2025, facing separate charges of possession of funds suspected to be proceeds of unlawful activities, contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same law.
In a statement released on Friday by the commmission, according to EFCC investigations, the defendants allegedly approached Samuel Mustard Benjamin, a Malaysia-based businessman, claiming they had Malaysian Ringgit worth the naira equivalent of ₦1.8 billion for exchange.
They reportedly asked the petitioner to transfer the naira equivalent into bank accounts in Nigeria, promising payment in Ringgit.
Authorities later discovered that the transferred funds were proceeds of unlawful activities. Following a petition by the victim, the Malaysian Anti-Fraud Unit froze the accounts involved.
Further investigations revealed that the suspects allegedly used part of the illicit funds to purchase properties, including hotels and residential buildings, across Lagos, Owerri in Imo State, and Agbor in Delta State.
The EFCC disclosed that Oladunjoye received ₦1.111billion from the transactions, Agodi obtained ₦432.163million, and Goru benefited ₦337.3million.
One of the counts against Oladunjoye reads: “That you, Christopher Abiola Oladunjoye, sometime in April 2025, within the jurisdiction of this Honourable Court, did take possession of the gross sum of ₦570,000,000.00 (Five Hundred and Seventy Million Naira) from Onyeka Joseph Okeke in your Account Number 0069113919, domiciled with Access Bank Plc, which sum you knew or reasonably ought to have known formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.”
Count against Agodi reads: “That you, Augustine Ikechukwu Agodi and Casa Rosso Lounge Night Club, sometime in April 2025, within the jurisdiction of this Honourable Court, did take possession of the gross sum of ₦283,316,000.00 (Two Hundred and Eighty-Three Million, Three Hundred and Sixteen Thousand Naira) from Onyeka Joseph Okeke in your Account Number 0069113919, domiciled with Zenith Bank Plc, which sum you knew or reasonably ought to have known formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.”
The charge against Goru states: “That you, Ovie Goru, sometime in April 2025, within the jurisdiction of this Honourable Court, did take possession of the gross sum of ₦202,600,000.00 (Two Hundred and Two Million, Six Hundred Thousand Naira) from Onyeka Joseph Okeke in your Account Number 0088188927, domiciled with Access Bank Plc, which sum you knew or reasonably ought to have known formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.”
However, the defendants pleaded not guilty to their respective charge.
Meanwhile, following their pleas, Barrister Innocent Mbachie and Mustapha Kaigama who represented the Commission in the cases urged the court to fix a date for trial to enable the Commission to present its case.
Counsel to the defendants prayed the court to grant their clients bail, arguing that the offences for which they were charged are bailable.
Justice Awogboro admitted Agodi and Goru to bail in the sum of ₦200 million each, with two sureties in like sum.
One of the sureties must be a civil servant not below the rank of Permanent Secretary, while the other must own a property within the Government Reserved Area (GRA) of either Abuja or Kwara State.
However, the court adjourned for ruling on the bail application of Oladunjoye, and for further hearing on the case.