The Economic and Financial Crimes Commission, Ibadan Zonal Directorate, has arraigned a man, Yusuf Oyepeju, and his two companies before an Oyo State High Court in Ibadan.

Oyepeju, Alwajeez International Nigeria Limited and AIN Homes and Property Limited were arraigned on Wednesday before Justice Olusola Adetujoye on a six-count charge bordering on forgery, uttering of documents, stealing by conversion, and obtaining money under false pretence.

The total amount involved is N13,697,900.00. 

According to the EFCC, Oyepeju allegedly defrauded an Islamic cleric and Dubai-based Nigerian, *Fasasi Bayonle*. Both men reportedly met on a WhatsApp group created for Muslims and Islamic teachings, where they served as tutors.

EFCC said the trouble started in 2018 when Oyepeju allegedly asked Bayonle for financial help to secure accommodation for his new wife in Ibadan. Bayonle promised to raise the money but instead gave Oyepeju temporary use of his unoccupied house at No. 3, Road 7, Ikumapayi Area, Olodo, Ibadan, while he made arrangements to send money.

The Commission further alleged that Oyepeju, who presented himself as a property developer, persuaded Bayonle to send him money to buy land and build another house for him in Ibadan. Bayonle allegedly sent N8,697,900.00 for that purpose.

EFCC stated that months later, Oyepeju allegedly forged a “Transfer of Agreement” document. He was accused of using the forged document to sell Bayonle’s house to his own fictitious companies and converting the proceeds to personal use.

Investigations also showed that he allegedly failed to purchase any land or develop a house for Bayonle despite receiving the money.

One of the charges read:

“That you, Yusuf Oyepeju, Alwajeez International Nigeria Limited and AIN Homes And Properties Limited between February and August, 2020, within the jurisdiction of this Hon Court, converted to your own personal use, the sum of N8, 697, 900.00, property of one Fasasi Bayonle, thereby committed an offence of stealing by conversion contrary to Section 390(9) Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.”

When the charges were read, Oyepeju pleaded “not guilty.”

Prosecution counsel, Sanusi Galadanchi, asked for a trial date and urged the court to remand the defendant.

Defense counsel, B. Ajibola, said a bail application had been filed and served.

Justice Adetujoye adjourned the matter for hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre pending the ruling.