Fake Cocoa Dealer Nabbed in Akure After Allegedly Defrauding Businessman of ₦36m
Admin EERC. 14th November, 2025
The Ondo State Police Command has apprehended a suspected fraudster who allegedly swindled a businessman of ₦36 million in a bogus cocoa supply scheme.
According to a statement issued by the Command’s Public Relations Officer, DSP Ayanlade Olayinka Olushola, the suspect, Ilegbemi Olusola Jacob, was arrested in Akure following an intensive manhunt triggered by a petition filed by the victim, Adegboyo Sunday.
Police investigations revealed that in July 2025, the suspect allegedly posed as a genuine cocoa merchant and collected ₦36,000,000.00 from the complainant under the pretext of supplying 5.56 tons of cocoa beans. After receiving the money, he reportedly vanished and continually issued false updates, claiming the goods were being sourced from Taraba State.
The Command’s Scorpion Squad, using technological intelligence and targeted operations, tracked Jacob to his hideout in Akure where he was eventually arrested. Police authorities described the arrest as another demonstration of the Command’s strengthened intelligence-led policing approach under the leadership of the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D., NPM.
The suspect is currently in police custody and will be charged to court once investigations are concluded.
Commending the IGP for his support, the Commissioner of Police, Ondo State Command, CP Adebowale Lawal, psc(+), mnips, reaffirmed the Command’s commitment to dismantling criminal syndicates and protecting legitimate business activities across the state. He urged business owners and investors to thoroughly verify the identities and credibility of potential partners before engaging in major transactions.
The Police Command assured the public that criminal activities will not be tolerated in Ondo State and offenders will face the full wrath of the law.
