The Economic and Financial Crimes Commission (EFCC) has recovered N80 million for a 42-year-old businessman, Ifeanyi Innocent Madueke, after he allegedly paid N232.8 million for 146 acres of land in Delta State but was unable to take possession of the property.
The money was recovered from Austine Muanya Okafor, who allegedly sold the land to Madueke but failed to deliver possession of the property.
The Ag. Zonal Director of the EFCC, Benin Zonal Directorate, DCE Sa’ad Hanafi Sa’ad, handed over a bank draft of N80 million to Madueke on Wednesday, September 24, 2026.
According to the EFCC, Madueke had purchased the 146 acres of land from Okafor for N232,800,000 in a community in Delta State.
However, after completing payment, Madueke allegedly could not take possession of the property. His efforts to obtain a refund from Okafor also reportedly failed, prompting him to petition the EFCC.
The Commission said its investigation established that Madueke had transferred the purchase money to the suspect in three tranches.
Presenting the recovered funds to Madueke, Sa’ad said the Commission would continue to discharge its duties professionally and with utmost integrity.
He added that the EFCC would not allow fraudsters to “reap where they did not sow.”
Receiving the N80 million draft, Madueke expressed appreciation to the EFCC, saying he had almost lost hope before petitioning the Commission.
“I am grateful to the Commission for what they have done. I had lost hope before I came to EFCC. I thank the management and staff for the good work they are doing,” he said.
