EFCC Drags Agribusiness CEO to Court Over Alleged ₦11.2m Fraud

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, has arraigned Oluwadahunsola Taiwo, Chief Executive Officer of Green Eagles Agribusiness Solution Limited, for allegedly defrauding an investor of ₦11.2 million.

Taiwo was arraigned before Justice O.A. Okunuga at the Lagos State High Court in Ikeja on Thursday. He faces a two-count charge of obtaining money under false pretence alongside his company.

According to court records, the complainant, Adepoju Idowu, invested various amounts between February and October 2020 in agricultural projects promoted by Taiwo. These included ₦1.5 million in a vegetable farm (promising 30% quarterly returns), ₦1.06 million in a rice project (with 40% returns in six months), and two additional ₦4.9 million investments in one-year and three-year Green Wealth Projects, both marketed with 30% annual returns.

All funds were reportedly transferred to Green Eagles Agribusiness via a First Bank account. However, the promised returns were never delivered, and Taiwo allegedly became unreachable.

One charge reads: “That you, Oluwadahunsola Taiwo, and Green Eagles Agribusiness Solution Limited, between February and October 2020, in Lagos, dishonestly converted to your own use an aggregate sum of ₦11,260,000, property of Adepoju Idowu, thereby committing an offence of stealing contrary to Section 285(1)(a) of the Criminal Law of Lagos State, 2011.”

Taiwo pleaded not guilty to the charges. Following his plea, EFCC counsel R.A. Abdulrasheed requested a trial date and urged the court to remand the defendant pending trial.

Justice Okunuga ordered his remand and fixed October 23, 2025, for trial commencement.