The Economic and Financial Crimes Commission (EFCC) has arraigned a businessman, Adeoye Gabriel Adewale, and his company, De Lukas Global Concept Limited, over an alleged N7.8 million car deal fraud.
Adewale was brought before Justice Olusola Adetujoye of the Oyo State High Court sitting in Ibadan by the Ibadan Zonal Directorate of the anti-graft agency on Thursday, August 13, 2026.
According to the EFCC, the defendant allegedly obtained N7,819,000 from Abdulrasaq Awotedo after presenting himself as a legitimate car dealer and promising to supply him with two vehicles.
The commission alleged that the transaction took place between October 6, 2021, and March 23, 2022, but the vehicles were not delivered as agreed.
Instead, Adewale allegedly received the funds through the First Bank account of De Lukas Global Concept Limited before converting the money to his personal use.
The charge filed against Adewale and his company accused them of stealing by conversion, contrary to Section 390(9) of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.
When the charge was read in court, Adewale pleaded not guilty.
Following his plea, EFCC counsel, Sanusi Galandachi, asked the court to fix a date for trial and order that the defendant be remanded in a correctional facility pending the proceedings.
Defence counsel, A. Towolawi, however, told the court that a bail application had already been filed. He urged the court to grant Adewale bail pending the hearing and determination of the case.
Justice Adetujoye subsequently adjourned the matter for hearing of the bail application and ordered that Adewale be remanded at the Agodi Correctional Centre.
The EFCC’s case centres on the allegation that Adewale used a purported car dealership operation to obtain the N7.819 million from Awotedo and subsequently converted the funds for personal use.
