EFCC Recovers N140 Million for B4 Sail Limited from Fraud
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, has handed over N140 million to B4 Sail Limited, an investment and money-lending company. This recovery, announced by EFCC Spokesperson Dele Oyewale, was facilitated by the acting Zonal Director, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo.
The funds were recovered following investigations into Jacob Oyebola Esan, who allegedly obtained money by false pretence and diverted funds. Esan, representing Geo Fields Plc, sought a N500 million loan from B4 Sail Limited in August 2025, with a 15% monthly interest rate.
Investigations revealed that Esan had previously borrowed N1,065,000,000 from B4 Sail Limited and pledged shares as collateral. However, these shares were sold without the company's knowledge, leading to a default in repayment and an outstanding amount of N2,250,500,000.
Kaltungo stated that the recovery signifies the EFCC's commitment to returning funds to legitimate owners.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
Read full article
Continue on Blueprint
Get the week in one email
Top stories, NPFL results, the naira, every Friday morning. Free, one email a week.
Related Stories
EFCC Recovers N125m from Land Fraud, Returns to Victim
EFCC Recovers N84 Million for Edo Businessman Abraham
EFCC Recovers $60 Million from Nestoil Limited
EFCC Recovers $104,950 for Businesswoman from Fraud Case
Nigerian Seeks EFCC Loan for Rent, Agency Responds
EFCC Urged to Recover N33.75 Billion in Corruption Case
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
