crime

Olusanya Adeniran Forex Scam Sparks EFCC Property Probe

Published

1 year ago

September 27, 2025

Olusanya Adeniran faces EFCC allegations of N50 billion forex scam, with properties in Lagos under forfeiture and ongoing legal battles

Olusanya Olumide Adeniran, CEO of EazzyTranzact, has been involved in an N50 billion forex scam, an allegation levelled against him by the EFCC.

Also read: EFCC warns on internet fraud, blames visa restrictions

The contention involves the CEO’s alleged use of illegal proceeds to acquire personal properties.

According to a Nairametrics report, the EFCC filed a suit in the Federal High Court, Abuja, seeking a forfeiture of properties belonging to Adeniran in Lekki and Victoria Island, Lagos.

The report noted that the forfeiture order by the EFCC indicated that the EazzyTranzact founder was involved in N50 billion illegal forex deals.

A counter suit has been filed against Adediran, EazzyTranzact and his second company, EazzyOil Petroleum Gas Energy Limited.

While Adeniran and his companies hold that the matter is purely a civil contract and not a forex scam, the EFCC is trying to establish a case of fraudulent diversion and alleged breach of trust.

The EFCC had earlier secured an interim forfeiture order against properties belonging to the EazzyTranzact CEO in May.

This includes 10 flats of a 4-storey building and 2 blocks of 2-storey buildings in Victoria Island, Lagos, 6 blocks of 2-storey buildings in Lekki Phase 1, Lagos, and five cars linked to Adeniran and his companies.

Forex crisis: EFCC to freeze 1,146 bank accounts suspected of illicit transactions following court approval
According to the anti-graft commission, the properties are suspected to have been acquired by Adediran through returns from illegal forex trading worth N50 billion.

In addition, the EFCC is also investigating a petition alleging criminal breach of trust, obtaining money by false pretence, and money laundering activities against Adediran.

Through investigations, the commission said that Adeniran and his companies made false claims about being a legitimate forex trader.

It added that “Bilateral Currency Exchange Forward Agreement”, the nominal complainant, paid the sum of N50.4 billion into the accounts of the respondents for the purchase of $31,514,383.00, which was to be delivered within 30 days.

Also read: Sujimoto CEO Allegedly Denied Lawyers, Medical Attention in EFCC Custody

The EFCC also stated that since it opened interrogations, the EazzyTranzact CEO had refused to honour their invitation and had since absconded to the United Kingdom.

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crime

Police Arrest Convicted Drug Dealer, Rescue 14-Year-Old Boy in Bauchi

Published

17 hours ago

October 27, 2026

Peculiar Adirika

Bauchi drug dealer arrest leads to the rescue of a 14-year-old boy allegedly used as a drug courier and the recovery of suspected illicit substances

The Bauchi State Police Command has arrested a 22-year-old convicted drug dealer and rescued a 14-year-old boy who was allegedly being used to deliver illicit drugs in the state.

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The command said operatives of its Violent Crimes Response Unit intercepted the teenager during a routine patrol and recovered a granular whitish substance suspected to be methamphetamine.

The Police Public Relations Officer, SP Nafiu Habib, disclosed this in a statement issued on Tuesday.

According to Habib, the operatives, led by the unit’s officer-in-charge, intercepted the minor, identified as Samuel Nkemakolan Kosi, at about 11 am on October 26, 2026, while he was allegedly on his way to deliver the suspected drug, also known as Ice, to a customer.

The statement said the teenager told investigators that he had been sent by Samuel Ogochukwu, a 22-year-old convicted drug dealer, to make the delivery.

“Upon interrogation, the minor confessed that he was sent by one Samuel Ogochukwu, 22 years old, a convicted drug dealer, to make the delivery,” Habib said.

Following the information, detectives traced Ogochukwu to his location and arrested him.

A search of the suspect’s shop and residence reportedly led to the recovery of 3.5 grammes of a substance suspected to be methamphetamine, 17 sachets of 100mg tramadol capsules, five sachets of 300mg pregabalin capsules and seven sachets of diazepam.

The police also recovered 12 Exol tablets, two wraps of a substance known as Yellow Boys and one sachet of Shine Shine Leather.

Habib said the principal suspect told investigators that he received supplies of illicit drugs through waybills from Onitsha, Anambra State.

The police spokesman added that the 14-year-old had been handled in accordance with juvenile best practices and would be reunited with his family after counselling.

“The 14-year-old minor has been handled in line with juvenile best practices and will be reunited with his family after counselling, while the principal suspect will be charged to court upon completion of investigation,” the statement said.

The Commissioner of Police in Bauchi State, Sani-Omolori Aliyu, commended the operatives for their work and urged the public to remain alert to criminal activity.

According to Habib, the commissioner said four major drug busts and subsequent convictions recorded within 10 days demonstrated the command’s continued efforts to combat drug trafficking.