The Economic and Financial Crimes Commission (EFCC) on Wednesday presented a bank draft of N42 million to Ebesunun Edonojie, a businessman who lost a substantial sum in a failed cement supply transaction. The presentation took place at the EFCC's Benin Zonal Directorate, where the Acting Zonal Director, Sa'ad Sa'ad, handed over the draft on behalf of the commission.
This latest recovery brings the total amount returned to Edonojie to N158 million, with only N17.39 million of the original N175.39 million loss still outstanding, according to a press release posted on X.
How the Cement Supply Deal Fell Through
Edonojie had petitioned the anti-graft agency in 2022, alleging that one Ogiemwonyi Godwin defrauded him in a cement supply arrangement. The businessman stated that he transferred a total of N350.78 million to Godwin for the supply of 116 truckloads of cement.
However, only 58 truckloads were delivered, leaving an outstanding balance of 58 truckloads valued at N175.39 million. Investigators later uncovered that Godwin paid N280 million to Dangote Cement Company for part of the order, but diverted the remaining N70 million for personal use.
After the fraud was detected, the suspect became unreachable, prompting the EFCC to launch a comprehensive asset-tracing effort. The commission said it remained determined to secure restitution for the victim despite the suspect's disappearance.
Recovery Progress and Outstanding Balance
Before this latest payment, the EFCC had already recovered and handed over N116 million to Edonojie. The additional N42 million, delivered as a bank draft, raises the cumulative recovery to N158 million. This means the businessman has now recovered about 90 percent of the defrauded amount, leaving a balance of N17.39 million yet to be recovered.
- Initial petition by victim: 2022
- Amount transferred to suspect: N350.78 million
- Value of undelivered cement: N175.39 million
- First recovery handed over: N116 million
- Latest recovery (bank draft): N42 million
- Total recovered so far: N158 million
- Outstanding balance: N17.39 million
The EFCC's careful tracking of the funds and its engagement with financial institutions helped secure the successive recoveries. The agency has not disclosed a timeline for recovering the balance, but investigators are continuing their work.
Victim's Reaction: 'I Lost Hope Completely'
Receiving the draft, an emotional Edonojie thanked the EFCC for its persistence and acknowledged that he had given up on ever seeing his money again after the suspect vanished.
"I lost hope completely. I did not even believe that I could recover the money as the man was nowhere to be found," Edonojie said. "I am more than grateful to the EFCC, the Chairman, the Zonal Director and the entire EFCC for the good work they are doing. It is only God that can reward you all."
He also spoke about the emotional and financial burden the fraud had placed on him. "I could not sleep because I borrowed the money. EFCC has become my saving grace. I am going to tell everybody how the EFCC saved me. EFCC has wiped away my tears," he added.
EFCC Vows to Keep Up the Fight
While handing over the bank draft, Sa'ad Sa'ad reiterated the EFCC's commitment to justice for financial crime victims. He stated that the commission would remain steadfast in its duty to protect innocent citizens and hold fraudsters accountable.
"We will continue to discharge our duties professionally and responsibly by ensuring that fraudulent people do not get away with their crime and that innocent people do not suffer unjustly," Sa'ad said.
The acting zonal director also highlighted the significance of the recovery, noting that it demonstrates the EFCC's ability to trace and return funds even when suspects attempt to evade the law. He commended his team for their diligence on the case.
Wider EFCC Recovery Efforts
This latest handover comes days after the EFCC returned N24 million in recovered funds to a former senator, a case that also drew attention to the agency's asset-recovery mandate. The EFCC routinely publicises such handovers as part of its efforts to reassure the public that financial crimes will not go unpunished.
The Benin Zonal Directorate, which handled this case, has been involved in multiple fraud investigations across Edo State. Its work in recovering money for defrauded individuals is part of a broader national effort by the commission to fight economic and financial crimes.
For Edonojie, the N158 million recovered so far has provided substantial relief, though the case is not fully concluded. The outstanding N17.39 million remains the focus of ongoing recovery attempts, and the EFCC has urged the public to continue reporting such cases to enable timely intervention.
