The Economic and Financial Crime Commission has returned recovered N125 million to the victim of a land fraud, Akinsewa Akiode, in Lagos, on Thursday.

The Lagos zonal directorate of the anti-graft agency said the recovery of the funds, handed over in Sterling Bank drafts, followed a petition submitted by Mr Akiode, alleging that one Olufemi Omoola Fashehun defrauded him of the funds “under the pretext of selling to him a parcel of land measuring 550 square metres, located at No. 10, Kudirat Abiola Way, Oregun, Lagos State.”

The commission stated, “The petitioner further alleged that the suspect deliberately concealed the existence of a pending court case affecting the property, which has been before the court since 2011.”

The EFCC noted that investigation showed that despite having been served with several court processes, including injunctions restraining him from carrying out any form of construction on the property, the suspect failed to disclose this material fact before collecting the purchase money.

“Consequently, the petitioner lost both the property and the developments under construction on the land, prompting him to petition the commission,” it added.

Upon the conclusion of investigations, the commission stated that it recovered the returned funds from the suspect and made restitution to the petitioner by presenting him with the recovered funds through Sterling Bank drafts.

The agency’s assistant commander, Bawa Kaltungo, reaffirmed the commission’s commitment “to investigating economic and financial crimes, recovering the proceeds of crime and ensuring that victims of fraud are restituted whenever necessary.”