Ilorin Zonal Office of Economic and Financial Crimes Commission has arraigned a businessman, Taiwo Sunday, before an Oyo State High Court in Ibadan over an alleged ₦123.05 million fraud involving the non-delivery of motorcycles.
Sunday was brought before Justice Kareem Adedokun on Tuesday, May 4, 2026, on a two-count charge of stealing, contrary to Section 390 of the Criminal Code Law of Oyo State, 2000.
According to the EFCC, the defendant approached complainant Oluwarotimi John in April 2024 with an offer to supply motorcycles, claiming to have exclusive dealership deals with major distributors in Lagos and northern Nigeria.
John allegedly paid ₦123,050,000 into Sunday’s company account, Yemsund Enterprise, but neither the motorcycles were delivered nor the money refunded.
The first count alleges that between May 3 and 5, 2024, Sunday converted ₦62.4 million paid for 20 units of TVS Neo Boxer Bajaj and 50 units of TVS HXL motorcycles to his own use.
The second count accuses him of converting ₦62.61 million between June 29 and July 1, 2024, for 64 units of Boxer Bajaj motorcycles.
Sunday pleaded not guilty to both charges.
EFCC counsel Abiddeen Aliyu asked the court to fix a date for trial, while defence counsel Shola Peter applied for bail. Justice Adedokun granted bail at ₦2 million with two sureties, each required to own landed property in Ibadan.
The defendant was also ordered to surrender his international passport to the court registry.
The case was adjourned to June 17, 2026, for trial.
