The Economic and Financial Crimes Commission (EFCC) has handed over ₦42 million recovered from fraudsters to an Edo businessman, Ebesunun Mathew Edonojie, bringing the total amount recovered in connection with an alleged ₦175.39 million cement supply fraud to ₦158 million.
The latest recovery was presented by the Acting Zonal Director of the EFCC’s Benin Zonal Directorate, Deputy Commander Sa’ad Sa’ad, who reaffirmed the Commission’s commitment to professionally investigating financial crimes, recovering proceeds of fraud and ensuring justice for victims.
Edonojie, a cement dealer, had petitioned the EFCC in 2022, alleging that Ogiemwonyi Godwin defrauded him of ₦175,392,000 in a failed cement supply transaction.
According to the petition, he paid ₦350,784,000 for the supply of 116 truckloads of cement, but only 58 trucks were delivered, leaving an outstanding 58 truckloads valued at ₦175,392,000.
Investigations by the Commission revealed that the suspect transferred ₦280 million to Dangote Cement Company for part of the order but allegedly diverted the remaining ₦70 million for personal use instead of completing the transaction.
The suspect subsequently became unreachable, frustrating efforts to recover the outstanding value of the undelivered cement.
Despite the suspect’s disappearance, EFCC operatives sustained efforts to trace and recover the diverted funds.
Their investigations initially led to the recovery of ₦116 million, which had earlier been handed over to the victim, before an additional ₦42 million was recovered, raising the total amount returned to ₦158 million.
Receiving the bank draft on Wednesday, Edonojie expressed profound appreciation to the EFCC, saying he had completely lost hope of recovering the money after the suspect went into hiding.
He commended the Executive Chairman of the Commission, Ola Olukoyede, Acting Zonal Director Sa’ad Sa’ad, and officials of the Benin Zonal Directorate for their persistence in pursuing the case.
“I lost hope completely. I did not even believe that I could recover the money because the man was nowhere to be found,” he said.
He added that the recovery came as a huge relief because the money used for the transaction had been borrowed.