The Economic and Financial Crimes Commission (EFCC) has handed over N125 million recovered from an alleged land fraud suspect to a Lagos businessman, Akinsewa Akiode.
According to a statement on Friday by EFCC spokesperson Dele Oyewale, the money was presented to Mr Akiode on Thursday by the commission’s Lagos Zonal Directorate 2 in Ikoyi after an investigation into a petition he filed over the disputed property transaction.
The statement stated that Mr Akiode alleged that Olufemi Fashehun collected N125 million from him for the sale of a 550-square-metre parcel of land at No. 10, Kudirat Abiola Way, Oregun, Lagos.
He later discovered, however, that the property had been the subject of litigation since 2011, a fact the seller allegedly failed to disclose before collecting the money.
The EFCC said its investigation showed that Mr Fashehun had been served with several court processes, including injunctions restraining him from carrying out any construction on the property, but did not disclose the pending litigation before completing the transaction.
