EFCC arraigns businessman over alleged N123m fraud

The Economic and Financial Crimes Commission (EFCC), Ilorin Zonal Directorate, has arraigned a businessman, Taiwo Sunday, before an Oyo State High Court sitting in Ibadan over an alleged N123 million fraud. Sunday, who operates as Yemsund Enterprise, was arraigned before Justice Kareem Adedokun on a two-count charge bordering on stealing. The EFCC alleged that the […]

The Economic and Financial Crimes Commission (EFCC), Ilorin Zonal Directorate, has arraigned a businessman, Taiwo Sunday, before an Oyo State High Court sitting in Ibadan over an alleged N123 million fraud.

Sunday, who operates as Yemsund Enterprise, was arraigned before Justice Kareem Adedokun on a two-count charge bordering on stealing.

The EFCC alleged that the defendant collected funds from a complainant under the pretext of supplying motorcycles but failed to deliver the goods or refund the money.

Court records indicated that the complainant, Oluwarotimi John, transferred a total of N123,050,000 to accounts linked to the defendant for the supply of Bajaj and TVS motorcycles, which were never delivered.

The defendant pleaded not guilty when the charges were read.

Prosecution counsel, Abiddeen Aliyu, asked the court to fix a trial date, expressing readiness to prove the case, while defence counsel, Shola Peter, filed a bail application.

Justice Adedokun granted bail in the sum of N2 million with two sureties in like sum.

The case was adjourned until June 17, 2026, for trial.