Edwin Etieyibo, a professor and businessman, has told FIJ how Abisoye Iretiola Akinpade defrauded him and his partners of N18.45 million.

Etieyibo informed FIJ that he met Akinpade through his niece who lives in South Africa, and that the two were planning a white wedding in South Africa, but Akinpade was unable to leave Nigeria owing to financial constraints from debts he had yet to clear.

Etieyibo said that he had registered a logistics and transport company, Folklife and Highland Logistics with his nephew, niece and Akinpade, who they considered to be familiar with the transportation industry.

And that he and his partners contracted Akinpade to acquire a forklift and a Ford car from Germany, but Akinpade said he was unable to go to Germany due to financial difficulties.

FUNDING AKINPADE

Etieyibo said he took a loan of N3 million and gave it to Akinpade so that he could settle his financial challenges, but Akinpade subsequently said that he also owed N2 million in truck payments. Etieyibo said he then offered to pay for and buy the trucks for the logistics company they were launching. He said he took out another loan of N4 million and gave it to Akinpade to pay for the trucks he owed.

Etieyibo told FIJ that all the transactions with Akinpade totalled N18.45 million.

But time passed, and there was no forklift, no Ford car, no trucks from Akinpade, only excuses.

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Akinpade had first said he lost his passport and would need to reapply for a visa from Germany, and then many excuses followed after.

It has been over a year since Etieyibo and his business partners gave Akinpade money in July 2021, and Akinpade has yet to deliver on their investment.

According to Etieyibo, the trucks were meant to be used for his logistics and transport company, with a portion of the proceeds going toward repaying the loans he took out for Akinpade.

THE JOURNEY TO SEEKING REDRESS

As a last resort, Etieyibo reported the matter to the Lagos State Police Command Crack Squad, Ikeja, through Ejike Nwabueze, his friend, since he lived abroad and could not appear in person.

But he encountered new problems. The officers asked him to pay N1 million before his case could be heard. After much bargaining, Etieyibo, through Nwabueze, paid half-a-million naira to the officers using a POS-machine.

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When Akinpade was brought in for questioning, he denied knowing Etieyibo or having any connections to him. However, after Etieyibo presented proof of their connection, he admitted to knowing him but said that they had no business operations together and that the trucks purchased were his and in his name.

Etieyibo stated that he witnessed Akinpade’s interrogation through a video call with his friend, Nwabueze, who was present at the station. He said he was dissatisfied with the police’s questioning of Akinpade and urged the officers to ask him for proof of payment for the trucks, if he did indeed purchase them.

He further said that following the police interrogation, Akinpade attempted to contact him, but he had blocked him on all channels, and that Akinpade wrote him an email pleading for audience.

Etieyibo also informed FIJ that despite being asked to prepare a petition, provide proof, and collecting 500,000 naira from him, the police allowed Akinpade leave without alerting him. And that they allowed so much time to pass before submitting his petition to court, only to return with a motion of notice from Akinpade for violation of human rights.

When contacted by FIJ, Akinpade denied defrauding Etieyibo of N18.45 million. He said he never sought Etieyibo for a loan and that it was his now estranged wife, Etieyibo’s niece, who approached Etieyibo for a loan without informing him. He stated he was against it and that the N3 million was sent to his wife, not him.

He further claimed that the logistics business was his idea and that he already had N10 million set aside for the purchase of a forklift, but after learning of his plans, his wife told her brother and uncle and proposed that they start the business together. He said that the N5 million payment for the forklift was given to his wife not him. And that he used his money to buy the Ford car and the forklift. He went on to say that the trucks in question were his, and that he had paid for them long before meeting his wife, but had yet to clear them and process their paperwork.

Akinpade claimed it was only N2 million Etieyibo lent him to clear his trucks which he has never denied receiving. He said that the delay in delivery of the forklift and Ford car was  because he travelled to Nigeria to marry Etieyibo’s niece. He stated he had been stranded in Nigeria since losing his passport and being denied a visa by the German embassy. He said he would provide FIJ with receipts and chats of his transactions with Etieyibo but had not done so at press time.