Ondo cocoa dealer faces trial over alleged ₦16.7m fraud

By Boye Oyeyemi

A 32-year-old cocoa merchant, Olanrewaju James Adeniyi, has been arraigned before an Akure Magistrate’s Court in Ondo State over an alleged ₦16.769 million fraud arising from a failed cocoa transaction.

Adeniyi was charged with obtaining money by false pretence, advance fee fraud and breach of peace in connection with the alleged transaction involving a fellow cocoa dealer, Prince Olatunbosun Olayemi.

The prosecution alleged that the incident occurred in 2024 at Igbara-Oke, Ondo State, where Adeniyi reportedly collected ₦16.769 million from Olayemi after promising to supply him with three tonnes of dried red cocoa beans.

According to the police prosecutor, Augustine Omhenihen, the defendant received the money but allegedly failed to deliver the cocoa beans as agreed. Omhenihen told the court that the alleged offences violated provisions of the Advance Fee Fraud Act and the Criminal Code Law of Ondo State.

He further disclosed that the prosecution had two witnesses lined up and requested an adjournment to enable them prepare for the trial.

However, Adeniyi pleaded not guilty to all the charges.
In his defense,

Adeniyi’s counsel, Folorunso Bewaji, urged the court to admit his client to bail, arguing that the matter was essentially a business disagreement between two cocoa merchants who had maintained a business relationship for a long period.

Ruling on the bail application, Magistrate O.T. Lebi admitted Adeniyi to bail in the sum of ₦1 million, with two sureties in like sum. The court adjourned the case until September 22, 2026, for hearing.