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.

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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.

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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.

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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.