EFCC Charges Estate Developer, Two Others Over ₦1.8 Billion Fraud

Ilorin, Kwara State – The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned self-styled estate developer Christopher Abiola Oladunjoye, alongside Augustine Ikechukwu Agodi and Ovie Goru, before Justice Abimbola Awogboro of the Federal High Court in Ilorin, Kwara State, for allegedly defrauding a Malaysia-based businessman of ₦1.8 billion.

The defendants, aged 33 and above, were docked on Thursday, October 23, 2025, on separate charges relating to possession of funds suspected to be proceeds of unlawful activities, in violation of Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022. Conviction under Section 18(3) of the same Act carries significant penalties.

In a statement released on Friday,  the agency disclosed that investigations revealed that the trio approached Samuel Mustard Benjamin, a businessman based in Malaysia, claiming they had Malaysian Ringgit equivalent to ₦1.8 billion for exchange.

They allegedly requested Benjamin to transfer the naira equivalent into accounts provided in Nigeria, promising repayment in Ringgit.

Authorities later discovered that the funds transferred were linked to unlawful activities and were frozen by the Malaysian Anti-Fraud Unit following a victim’s petition.

Further EFCC investigations indicated that the defendants used part of the fraudulent proceeds to acquire properties, including hotels and residential buildings, across Lagos, Owerri, and Agbor.

Meanwhile, Oladunjoye allegedly received ₦1.111 billion, Agodi ₦432.163 million, and Goru ₦337.3 million.

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.”

A similar 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.”

The defendants pleaded not guilty to their respective charge.

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.

The 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.