EFCC hands over N140m recovered from alleged loan fraud to B4 Sail

The Economic and Financial Crimes Commission, EFCC, has handed implicit N140 cardinal recovered during an probe into alleged obtaining of wealth by mendacious pretence and diversion of funds to an concern and money-lending company, B4 Sail Limited, successful Lagos.

According to a connection by the agency, the EFCC Lagos Zonal Directorate 2, located astatine Okotie-Eboh, Ikoyi, Lagos, handed implicit the funds successful slope drafts connected Thursday, September 17, 2026. The drafts were presented to B4 Sail Limited by the Acting Zonal Director of the Directorate, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo.

The betterment followed an probe involving Jacob Oyebola Esan and companies linked to him.

In a petition submitted to the EFCC connected April 20, 2026, B4 Sail Limited alleged that Esan, acting connected behalf of his company, Geo Fields Plc, approached the steadfast successful August 2025 to get a N500 cardinal indebtedness installation to boost his business.

The petitioner said the indebtedness carried an involvement complaint of 15 per cent per period and had a tenor of 1 month.

Investigation revealed that Esan, identified arsenic the archetypal suspect, had antecedently obtained different indebtedness facilities from B4 Sail Li...