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 ₦7.819 million fraud.
The defendants were arraigned on Thursday, August 13, 2026, before Justice Olusola Adetujoye following allegations that Adewale obtained the money from Abdulrasaq Awotedo under the guise of supplying him with two vehicles.
According to the EFCC, Adewale allegedly presented himself as a legitimate car dealer and used a purported car mart to convince Awotedo to make the payment.
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The money was reportedly transferred into the company’s First Bank account before it was allegedly converted for Adewale’s personal use.
The anti-graft agency charged the defendant and his company with stealing by conversion, alleging that the offence occurred between October 6, 2021, and March 23, 2022.
The charge, filed under Section 390(9) of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004, alleges that the defendants converted ₦7.819 million belonging to Awotedo to their personal use.
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When the charge was read in court, Adewale pleaded not guilty.
Following the plea, EFCC counsel, Sanusi Galandachi, asked the court to set a date for trial and remand the defendant in a correctional facility pending further proceedings.
Defence counsel, A. Towolawi, however, informed the court that a bail application had already been filed and urged the judge to grant his client bail pending the 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.
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The case remains before the court, and the allegations against the defendant have yet to be proven. His plea of not guilty means he remains entitled to the presumption of innocence unless and until a court determines otherwise.
