The Economic and Financial Crimes Commission, Ibadan Zonal Directorate, on Wednesday arraigned Yusuf Oyepeju before Justice Olusola Adetujoye of the Oyo State High Court in Ibadan over alleged fraud involving N13.7 million.
Oyepeju was charged alongside his companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, on six counts bordering on forgery, uttering of documents, stealing by conversion and obtaining money under false pretence.
According to the EFCC Head of Media and Publicity, Wale Oyewale, the defendant allegedly defrauded an Islamic cleric and Dubai-based Nigerian, Fasasi Amidu Bayonle, whom he met through a WhatsApp group established for Muslims and the dissemination of Islamic teachings. Both men reportedly served as tutors on the platform.
One of the charges alleged that Oyepeju and the two companies converted N8,697,900 belonging to Bayonle to their personal use between February and August 2020.
“That you, Yusuf Ademola Oyepeju, Alwajeez International Nigeria Limited and AIN Homes And Properties Limited between February and August, 2020, within the jurisdiction of this Honourable Court, converted to your own personal use, the sum of N8, 697, 900.00 (Eight Million, Six Hundred and Ninety-seven Thousand, Nine Hundred Naira), property of one Fasasi Amidu 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.”
Oyepeju pleaded not guilty to the charges.
Following his plea, EFCC counsel, Sanusi Galadanchi, requested a date for trial and asked the court to remand the defendant in a correctional facility.
Defence counsel, B. Ajibola, told the court that a bail application had already been filed and served on the prosecution and urged the court to grant his client bail.
Justice Adetujoye subsequently adjourned the case for hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre.
The allegations reportedly stem from events dating back to 2018, when Oyepeju allegedly approached Bayonle for financial assistance to secure accommodation for himself and his newly married wife in Ibadan.
Bayonle reportedly offered him temporary use of an unoccupied house at No. 3, Road 7, Ikumapayi area of Olodo, Ibadan, while he worked towards raising funds for the accommodation.
The EFCC alleged that Oyepeju, who presented himself as a property developer, subsequently persuaded Bayonle to provide funds for the purchase of land and construction of another house in Ibadan.
Bayonle allegedly transferred N8,697,900 to him for that purpose.
Investigators later allegedly discovered that Oyepeju forged a “Transfer of Agreement” document involving Bayonle and sold the house he had been allowed to occupy temporarily to companies allegedly under his control.
The EFCC further alleged that he converted the proceeds from the sale for personal use and failed to fulfil his promise to acquire and develop land for Bayonle after receiving the money.
Oyepeju has pleaded not guilty, and the allegations remain to be determined by the court.