Oyepeju was arraigned alongside his two companies, Alwajeez International Nigeria Limited and AIN Homes and Property Limited, on a six-count charge involving forgery, uttering of false documents, stealing by conversion and obtaining money under false pretences.
The case was heard before Justice Olusola Adetujoye, with the alleged offences said to have been committed against Fasasi Bayonle, an Islamic cleric and Nigerian based in Dubai.
According to a statement issued on Wednesday by EFCC spokesperson Dele Oyewale, Oyepeju allegedly met Bayonle through a WhatsApp group established to promote Islamic teachings. Both men reportedly served as tutors on the platform.
The anti-graft agency alleged that between February and August 2020, Oyepeju converted N8,697,900 belonging to Bayonle for his personal use.
One of the charges stated: “That you, Yusuf Oyepeju, Alwajeez International Nigeria Limited and AIN Homes And Properties Limited between February and August, 2020, within the jurisdiction of this Hon Court, converted to your own personal use, the sum of N8, 697, 900.00, property of one Fasasi Bayonle, thereby committed an offence of stealing by conversion contrary to Section 390(9) Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.”
Oyepeju pleaded not guilty to all the allegations.
Following his plea, EFCC counsel, Sanusi Galadanchi, requested a date for the commencement of trial and urged the court to remand the defendant in a correctional facility.
Defence counsel, B. Ajibola, however, told the court that a bail application had already been filed and served on the prosecution. He consequently asked the court to grant his client bail.
Justice Adetujoye adjourned the case to hear the bail application and ordered that Oyepeju be remanded at the Agodi Correctional Centre pending the hearing.
The EFCC said the dispute dates back to 2018, when Oyepeju allegedly approached Bayonle for financial assistance to secure accommodation for himself and his newly married wife in Ibadan.
The commission said Bayonle initially intended to raise money for him but instead allowed Oyepeju to temporarily occupy his unoccupied house at No. 3, Road 7, Ikumapayi area of Olodo, Ibadan, after relocating to the United Arab Emirates.
Oyepeju allegedly presented himself as a property developer and later persuaded Bayonle to provide funds for the purchase and development of land in Ibadan.
According to the EFCC, Bayonle subsequently transferred N8,697,900 to Oyepeju for the proposed property project.
The commission alleged that investigations later uncovered a purported “Transfer of Agreement” which Oyepeju allegedly forged to facilitate the transfer of Bayonle’s house to his companies.
He was further accused of selling the property and diverting the proceeds for personal use.
Investigators also alleged that Oyepeju failed to fulfil his commitment to acquire land and develop a property for Bayonle despite receiving the money for the project.
