The Economic and Financial Crimes Commission (EFCC) has launched an investigation into Olusanya Olumide Adediran, founder of EazzyTranzact Payment Services and EazzyOil Petroleum Gas Energy Limited, over allegations of illegal foreign exchange transactions.
In a ruling delivered by Justice M.G. Umar of the Federal High Court, Abuja, the EFCC secured an interim forfeiture order to temporarily seize 10 properties allegedly traced to Adediran. The order followed an ex-parte application marked FHC/ABJ/CS/1174/2025, supported by an affidavit identifying the assets as proceeds of ongoing illicit forex dealings.
According to the EFCC, Adediran and his companies allegedly posed as legitimate forex traders and received ₦50.4 billion from a complainant under a purported “Bilateral Currency Exchange Forward Agreement” for the purchase of $31.5 million, which was to be delivered within 30 days. The commission claims the funds were diverted to acquire luxury properties and vehicles.
Assets under EFCC watch include:
- Six blocks of two-storey buildings at 28A and 28B Ibiyemi Salvador Street, Lekki Phase 1, Lagos.
- Ten flats in a four-storey building at 22 Akiogun Road, Oniru, Victoria Island, Lagos.
- Two blocks of two-storey buildings at 9 Oba Idowu Abiodun Street, Oniru, Victoria Island, Lagos.
- Two Mikano generators, a Hiace Super Gel ambulance, a Coaster bus, a Toyota Hilux, a JMC truck, a Mercedes-Benz G-Wagon, and a Range Rover Velar Sport.
The EFCC alleged that Adediran has ignored multiple invitations and is believed to have absconded to the United Kingdom.
The case adds to the growing list of high-profile financial crimes under EFCC scrutiny as the agency intensifies its clampdown on illegal forex trading and money laundering in Nigeria.
