Lagos, June 10, 2025 – A Lagos State High Court sitting in Ikeja has sentenced one Michael Adedeji to a staggering 74 years in prison for defrauding a businessman of ₦360 million and issuing a series of dud cheques.
Justice Mojisola Dada delivered the ruling on Monday, June 9, after the Economic and Financial Crimes Commission (EFCC) successfully prosecuted the case, charging Adedeji with multiple counts bordering on obtaining money under false pretence, stealing, and issuance of dishonoured cheques.
According to the EFCC, Adedeji deceived his victim under the pretext of supplying industrial materials for a major construction project. He reportedly received ₦360 million in tranches, but failed to deliver the goods as promised. When pressed for repayment, Adedeji issued several post-dated cheques, all of which bounced upon presentation.
The court found the defendant guilty on all 10 counts. Justice Dada described his actions as “calculated criminal deception driven by greed and dishonesty,” and handed him a total sentence of 74 years, with terms to run concurrently.
In addition to the prison term, the court ordered Adedeji to make full restitution of the stolen funds to his victim.
Spokesperson for the EFCC, Dele Oyewale, hailed the judgment as a victory for justice and a warning to fraudsters exploiting loopholes in commercial transactions.
“This conviction reinforces the Commission’s resolve to ensure that economic saboteurs, regardless of their tactics, are brought to justice,” he said.
The conviction adds to the growing list of high-profile fraud cases being pursued by the EFCC across the country, as authorities continue to crack down on financial crimes and restore public confidence in Nigeria’s judicial process.
