The Economic and Financial Crimes Commission (EFCC), Ibadan Zonal Directorate, has arraigned a man, Yusuf Ademola Oyepeju, alongside two companies, over an alleged N13.7 million fraud involving a Dubai-based Nigerian Islamic cleric.
Oyepeju and his companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, were arraigned on Wednesday, August 19, 2026, before Justice Olusola Adetujoye of the Oyo State High Court, Ibadan.
They are facing a six-count charge bordering on forgery, uttering of documents, stealing by conversion and obtaining money under false pretence to the tune of N13,697,900.
The EFCC alleged that Oyepeju defrauded Fasasi Amidu Bayonle, an Islamic cleric based in Dubai, of money and property after the two met as tutors on a WhatsApp group created for Muslims and the propagation of Islamic teachings.
One of the charges alleged that Oyepeju and his companies, between February and August 2020, converted N8,697,900 belonging to Bayonle to their personal use, contrary to the provisions of the Criminal Code Act.
Oyepeju pleaded not guilty to all the charges when they were read to him.
Following his plea, EFCC counsel, Sanusi Galadanchi, asked the court to adjourn the matter for trial and prayed that the defendant be remanded in a correctional facility.
However, defence counsel, B. Ajibola, informed the court that an application for bail had been filed and served on the prosecution. He consequently urged the court to grant his client bail.
Justice Adetujoye adjourned the matter for hearing of the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre.
According to the EFCC, the case dates back to 2018 when Oyepeju allegedly approached Bayonle for financial assistance to secure accommodation for himself and his newly married wife in Ibadan.
The anti-graft agency said Bayonle offered Oyepeju temporary use of his unoccupied house at No. 3, Road 7, Ikumapayi area of Olodo, Ibadan, while he raised funds for the accommodation.
Oyepeju, who allegedly presented himself to Bayonle as a property developer, subsequently took possession of the property and allegedly convinced Bayonle to send him money to purchase land and develop another house for him in Ibadan.
The EFCC said Bayonle subsequently transferred N8,697,900 to Oyepeju for the proposed purchase and development.
However, according to the commission, investigations later revealed that Oyepeju allegedly forged a “Transfer of Agreement” document between himself and Bayonle and purportedly sold the house he had been allowed to occupy temporarily to his companies.
The proceeds of the alleged sale were subsequently converted for his personal use, the EFCC alleged.
The commission further alleged that Oyepeju failed to fulfil his promise to purchase and develop land for Bayonle despite receiving the money.
The EFCC said investigations are continuing.
