EFCC arraigns Aremu Muftau for alleged N145m fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned Aremu Muftau Ajagun before Justice Uche Agomoh of the Federal High Court, Ibadan, Oyo State, for alleged advance fee fraud amounting to N145 million.

Ajagun was charged by the Ibadan Zonal Directorate of the Commission on a one-count charge of fraud and obtaining money under false pretence. The charge, read to the defendant, alleges that in August 2025, he defrauded one Adegbite Musiliu Adetunji of N145 million by falsely claiming that the sum was required for the purchase of eight pieces of 4000KVA transformers.

The charge reads: “That you, Aremu Muftau Ajagun, in August 2025, in Ibadan, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the sum of N145,000,000.00 (One Hundred and Forty-Five Million Naira Only) from one Adegbite Musiliu Adetunji by false pretence, when you represented to him that the said sum is the purchase price of eight pieces of 4000KVA transformers, and other false pretences which you knew to be false.”

Ajagun pleaded not guilty to the charge, prompting the prosecution counsel, Deputy Superintendent of EFCC, DSE Mabas Mabur, to request a trial date and for the defendant to be remanded in a correctional facility. In response, the defence counsel, Kemi Fawosola, appealed to the court to remand the defendant in the custody of the EFCC.

Justice Agomoh ruled that Ajagun be remanded in Agodi Correctional Centre, Ibadan, pending further proceedings.

Following the arraignment, the prosecution counsel declared readiness to present two witnesses in the trial. However, the defence sought an adjournment, citing the need for more time to review essential documents and prepare an application for bail.

The case was adjourned to May 8, 2026, for the hearing of the bail application, and further trial proceedings will take place on June 9 and 10, 2026.

Ajagun is accused of presenting himself as a consultant with Burron Development Limited and fraudulently obtaining N145 million from Adetunji under the false pretext of purchasing transformers. However, investigations later revealed that while Ajagun had indeed purchased the transformers from Burron Development Limited, he supplied them to other victims, having already defrauded them with the same false promise.