Naphtha Deal: EFCC says stolen N65 million recovered, returned to businessman

The Economic and Financial Crimes Commission has handed over a draft for N64.8 million to Uzoechina Anene, funds recovered by its operatives for him. The EFCC spokesman, Dele Oyewale, said this in a statement on Wednesday.
The acting zonal director of the Benin directorate, Sa’ad Hanafi Sa’ad, handed over the money to the victim on Tuesday in Benin.
According to him, Mr Anene, 59, a dealer in petroleum products, had petitioned the anti-graft agency in October 2024, stating that he had been defrauded by a suspect, Adegboyega Adebanbo.
“The petitioner explained that Adebanbo defrauded him of N65.7 million under the pretence that he could supply him with 90,000 litres of naphtha (condensate).
”However, upon transfer of the money, the products were not supplied, and efforts to recover the money proved abortive.
“During investigation, the commission discovered that Adebanbo had travelled out of the country but transferred the sum of N64.8 million to the account of the wife of his business associate, Ekundayo Akinseye. Akinseye also transferred the money to other accounts,” he said.
Mr Oyewale said, however, that the EFCC traced the various accounts and recovered the money.
He said that the acting zonal director, while presenting the draft, cautioned Nigerians to be circumspect to avoid falling victim to fraudsters.
“The commission will continue to discharge its responsibilities professionally and bring fraudsters to book,” he stated. “We also use this opportunity to caution Nigerians to be alert to fraudsters who parade themselves as businessmen and suppliers of products.”
He said that the suspects had been charged in court.
Meanwhile, Mr Anene commended the commission for its intervention.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

Economy
Dangote Refinery cuts petrol price by N25 per litre
The refinery announced the price adjustment on Tuesday.

Politics
CSOs reject Akpabio-led Senate’s conditional e-transmission of election results
“The conditional language ‘provided if it fails and it becomes impossible to transmit’ introduces troubling discretion in the results management process,” said the CSOs.

Sport
2027 African Schools Games: NSC inaugurates 28-member LOC
The committee was inaugurated on Tuesday at the Moshood Abiola National Stadium in Abuja by the NSC chairman, Shehu Dikko.

Abuja
Presidency, health ministry partner to prioritise women’s health
“There is a lack of knowledge on how to access and understand the services the government has provided,” said Ms Steinacker.

Rights
Stakeholders seek better welfare for magistrates in Kaduna, Kano, Katsina
The magistrates have been pushing for improved welfare packages, including judicial autonomy, official vehicles, higher salaries, and better working conditions.

States
16 ISWAP terrorists eliminated, 11 kidnapped victims rescued in Borno: Military
Troops of the Joint Task Force said they killed 16 ISWAP terrorists and rescued 11 kidnapped victims in a series of coordinated counter-offensives across Borno.






