Court sentences popular Nigeria man to 63 years in prison over investment scam

Justice Olusola Adetujoye of the Oyo State High Court in Ibadan, on Monday April 28, 2025, sentenced Olaniyan Gbenga Amos to 63 years’ imprisonment.

The court found him guilty of multiple investment fraud charges alongside his firm, Detorrid Heritage Investment Limited.

The Ibadan Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, prosecuted Amos on a 30-count charge.

The charges bordered on obtaining money under false pretences, contrary to Section 1(1)(a) of the Advance Fee Fraud Act.

EFCC spokesperson, Dele Oyewale, confirmed the conviction in a statement released on Tuesday, April 29, 2025.

Oyewale explained that the offences were punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.

One of the charges showed that Amos obtained N995,000 from Bada Titilope through false investment claims.

Amos claimed the money was for investment with Crime Alert Security Network, promising a 30% return in six weeks.

Another charge revealed he obtained N920,000 from Onifade Isaac Olawale with the same fraudulent promise.

EFCC disclosed that Amos pleaded not guilty to all charges during arraignment on December 14, 2021.

Prosecuting counsel, Sanusi Galadanchi, opened the case on February 17, 2022, and called eight witnesses.

He also tendered several exhibits marked as Exhibits A to H before closing the case on January 24, 2023.

Amos filed a no-case submission, which the court dismissed, ordering him to enter his defence.

He opened his defence on October 17, 2024, and testified as the only witness for himself and his firm.

After both parties presented their final written addresses, the court fixed judgment for April 28, 2025.

At the resumed proceedings, Justice Adetujoye convicted him on counts 6, 16, 17, 18, 19, 21, 22, 23, and 24.

The judge sentenced Amos to seven years’ imprisonment on each of those nine counts.

However, the court discharged and acquitted him on counts 1 to 5, 7 to 15, 20, and 25 to 30.

The court ordered the sentences to run concurrently, making the effective jail term 63 years.

Justice Adetujoye also directed Amos to refund the defrauded victims in full.

The EFCC added that Amos had earlier received a 75-year jail sentence on December 14, 2023.

Justice Bayo Taiwo of the Oyo State High Court handed down that sentence for similar investment fraud.

The Commission further disclosed that Amos faces two more ongoing fraud trials at Federal High Courts in Ibadan.

EFCC investigations showed that Amos deceived numerous victims with fake investment schemes.

The fraudulent schemes caused investor losses exceeding N1 billion, according to the agency’s findings.

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