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A businessman, Taiwo Sunday, has been dragged before the Oyo State High Court in Ibadan by the Economic and Financial Crimes Commission (EFCC) over an alleged ₦123 million fraud linked to a failed motorcycle supply deal.
The defendant was arraigned on Tuesday, May 4, 2026, by the Ilorin Zonal Directorate of the EFCC before Justice Kareem Adedokun on a two-count charge bordering on obtaining money under false pretence.
According to the anti-graft agency, Sunday allegedly deceived one Oluwarotimi John in April 2024 with claims of having exclusive dealership rights with major motorcycle distributors across Lagos and parts of Northern Nigeria. Lured by the promise, the complainant reportedly paid a total sum of ₦123,050,000 into the account of the defendant’s company, Yemsund Enterprise.
However, the deal turned sour as the motorcycles were never delivered, and repeated demands for a refund allegedly yielded no result.
The EFCC maintained that the offence contravenes Section 390 of the Criminal Code Law of Oyo State, 2000, and is punishable under the same law.
The case has further heightened concerns over rising cases of advance fee fraud in business transactions, as the court prepares to hear the matter.
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