How Man Who Was Given Shelter Allegedly Sold Benefactor’s House

The Economic and Financial Crimes Commission (EFCC) has arraigned a man, Yusuf Ademola Oyepeju, before the Oyo State High Court in Ibadan over an alleged N13.6m property fraud.

Oyepeju was arraigned alongside his companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, on a six-count charge bordering on forgery, uttering of documents, stealing by conversion and obtaining money under false pretence.

The defendant was brought before Justice Olusola Adetujoye on Wednesday, August 19, 2026, by the EFCC’s Ibadan Zonal Directorate.

The charges relate to the alleged defrauding of an Islamic cleric and Dubai-based Nigerian, Fasasi Amidu Bayonle, of N13,697,900 and a property in Ibadan.

According to the EFCC, Oyepeju met Bayonle through a WhatsApp group created for Muslims and Islamic teachings, where both men served as tutors.

The prosecution alleged that between February and August 2020, Oyepeju and his companies converted N8,697,900 belonging to Bayonle to their personal use.

One of the charges accused the defendant of converting the money, property of Bayonle, contrary to Section 390(9) of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.
Oyepeju pleaded not guilty to all the charges.

Following his plea, EFCC counsel, Sanusi Galadanchi, asked the court to adjourn the matter for trial and ordered that the defendant be remanded in a correctional facility.

However, defence counsel, B. Ajibola, told the court that a bail application had already been filed and served on the prosecution, urging the judge to admit his client to 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 EFCC alleged that the dispute dates back to 2018 when Oyepeju reportedly sought financial assistance from Bayonle to secure accommodation for himself and his newly married wife in Ibadan.

Bayonle, who was preparing to relocate to the United Arab Emirates, allegedly allowed Oyepeju to temporarily occupy his unoccupied house at No. 3, Road 7, Ikumapayi area of Olodo, Ibadan, while he raised money for the defendant’s accommodation.

The anti-graft agency alleged that Oyepeju, who presented himself to Bayonle as a property developer, later persuaded him to provide money for the purchase of land and construction of another house in Ibadan.

Bayonle subsequently transferred N8,697,900 to Oyepeju for the proposed land acquisition and development, the EFCC said.

However, the commission alleged that Oyepeju later forged a “Transfer of Agreement” document purportedly between himself and Bayonle.

The EFCC further alleged that the defendant sold the house he had been allowed to occupy temporarily to his companies and converted the proceeds for his personal use.

Investigators also reportedly found that Oyepeju failed to purchase and develop the land for Bayonle despite receiving the N8.69m.

The case has been adjourned for hearing of the defendant’s bail application.