EFCC arraigns Aremu Muftau Ajagun in Ibadan over alleged N145 million advance fee fraud involving false transformer purchase claims

The Economic and Financial Crimes Commission (EFCC) has arraigned Aremu Muftau Ajagun before Justice Uche Agomoh of the Federal High Court in Ibadan, Oyo State, over an alleged N145 million advance fee fraud linked to a disputed transformer purchase deal.

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The EFCC Ibadan Zonal Directorate brought the defendant before the court on a one-count charge bordering on obtaining money under false pretence and fraud.

Ajagun is alleged to have defrauded Adegbite Musiliu Adetunji in August 2025 by falsely claiming that the funds were required for the purchase of eight 4000KVA transformers.

The charge stated that the defendant knowingly made false representations in order to obtain the sum of N145,000,000 from the complainant under fraudulent circumstances.

Ajagun pleaded not guilty to the charge when it was read in court.

Following the plea, prosecution counsel, Deputy Superintendent of EFCC, DSE Mabas Mabur, requested a trial date and the remand of the defendant in a correctional facility pending proceedings.

However, defence counsel Kemi Fawosola appealed to the court to have the defendant remanded in EFCC custody instead.

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

The prosecution informed the court of readiness to present two witnesses in the case, while the defence requested an adjournment to study documents and prepare a bail application.

The case has been adjourned to 8 May 2026 for hearing of the bail application, while substantive trial proceedings are scheduled for 9 and 10 June 2026.

Investigations reportedly indicate that Ajagun allegedly operated under the guise of a consultant with Burron Development Limited, where he is accused of receiving funds under false pretences.

Authorities further allege that while transformers were indeed procured from the company, they were supplied to other victims after similar fraudulent representations.