The Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Directorate, has arraigned a man and his company before the Oyo State High Court in Ibadan over an alleged N7.8 million car deal fraud.
A statement by the EFCC said the defendants, Adeoye Gabriel Adewale and his company, De Lukas Global Concept Limited, were arraigned on Thursday, August 13, 2026, before Justice Olusola Adetujoye.
The agency alleged that Adewale presented himself to Abdulrasaq Awotedo as a car dealer and, using a fake car mart, convinced him to pay N7,819,000 for the purchase of two cars.
The commission further alleged that the money was paid into the First Bank account of De Lukas Global Concept Limited before it was allegedly converted by Adewale for his personal use.
Adewale and his company were arraigned on a one-count charge bordering on stealing by conversion involving the sum of N7,819,000, said to belong to Awotedo.
The charge reads, “That you, Adeoye Gabriel Adewale and De Lukas Global Concept Limited between 6th October, 2021 and 23rd March, 2022, within the jurisdiction of this Honourable Court, converted to your own personal use, the sum of N7, 819, 000.00 (Seven Million, Eight Hundred and Nineteen Thousand Naira), property of one Abdulrasaq Awotedo and thereby committed an offence of stealing by conversion contrary to Section 390(9) Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.”
The defendant pleaded not guilty to the charge when it was read to him in court.
Following his plea, EFCC counsel, Sanusi Galandachi, asked the court to fix a date for trial and remand the defendant in a Correctional Centre.
However, the defendant’s counsel, A. Towolawi, informed the court that he had filed a bail application on his client’s behalf.
Towolawi urged the court to admit his client to bail pending the hearing and determination of the charge against him.
Justice Adetujoye subsequently adjourned the case for the hearing of the bail application and ordered that the defendant be remanded in Agodi Correctional Centre.