The Economic and Financial Crimes Commission (EFCC) has arraigned Adeoye Gabriel Adewale and his company, De Lukas Global Concept Limited, before the Oyo State High Court in Ibadan over an alleged N7.8 million car deal fraud. The arraignment took place on Thursday, August 13, 2026, before Justice Olusola Adetujoye. The EFCC alleges that Adewale deceived Abdulrasaq Awotedo by posing as a car dealer and using a fake car mart to convince him to pay N7,819,000 for two vehicles. The money was transferred into the First Bank account of De Lukas Global Concept Limited, only to be allegedly converted for personal use by Adewale.
According to the EFCC, the fraudulent transaction occurred between October 6, 2021, and March 23, 2022, within the jurisdiction of the court. The agency charged Adewale and his company with stealing by conversion under Section 390(9) of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004. The charge specifically states that the sum of N7,819,000, belonging to Awotedo, was wrongfully converted to the defendants’ personal use. During the arraignment, Adewale pleaded not guilty to the allegation.
EFCC counsel Sanusi Galandachi requested the court to fix a trial date and remand the defendant in a correctional facility. In response, Adewale’s legal representative, A. Towolawi, informed the court that a bail application had been filed on his client’s behalf. Towolawi urged the judge to grant bail pending the hearing and determination of the case. Justice Adetujoye adjourned the matter to allow for the consideration of the bail application and ordered that Adewale be remanded in Agodi Correctional Centre until further notice.
The case highlights ongoing efforts by the EFCC to combat financial crimes in Nigeria, particularly those involving fraud and misappropriation of funds through deceptive business practices. It also underscores the importance of due diligence when engaging in high-value transactions, especially with individuals or companies offering seemingly attractive deals without proper verification. The outcome of this case could set a precedent for similar cases involving fraudulent car sales and misuse of trust in commercial dealings across the country. As the legal process continues, stakeholders are watching closely to see how the court will handle the bail application and the broader implications for financial crime enforcement in Oyo State.
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