The Special Investigation Unit (SIU) of the Nigeria Police Force (NPF) has arrested Olamilekan Akinduro, a Lagos-based accountant, on charges of allegedly organizing a group of disgruntled investors from Oxford International Group to demand their overdue funds.
AbdulFatai Oshioda, a friend of Akinduro and a staff member at the office of the Inspector General of Police, informed FIJ that Akinduro was apprehended on Saturday at Abule-Egba in Lagos and swiftly transported to Abuja in the early hours of Sunday. Oshioda stated that Akinduro was initially unaware of the crime he was being accused of.
After his arrest, Akinduro was detained at Maitama Police Station on Sunday before being transferred to the office of the Inspector General of Police on Monday. Upon his arrival in Abuja, Akinduro learned that Teniola Adesanya, the chairman of Oxford International Group, had filed a petition against him, leading to his arrest.
According to Oshioda, Adesanya accused Akinduro of creating a group to incite violence against him and of defrauding some of Oxford’s investors. “One of the accusations is that Oxford owed Akinduro N1 million but only paid him N500,000, and he refused to collect the remaining N500,000 they offered. This claim is untrue,” Oshioda told FIJ. “They also alleged that he made a defamatory publication about them, which is also false.”
Background of the Case
In 2021 and 2022, many Nigerians, including Akinduro, invested with Oxford International Group, expecting returns at the end of their investment periods. However, for many, including Akinduro, these returns never materialized.
In December 2022, Akinduro informed FIJ that he had invested N11.5 million between December 2021 and January 2022, expecting to receive at least N13.465 million between June and October 2022. However, Oxford Dredging, a subsidiary of Oxford International Group, has yet to return his funds.
Akinduro stated that he intended to use the expected return on investment to pay for his master’s tuition at the University of Derby, England, but he lost his admission after the organization only paid him N1 million, which was insufficient.
Before losing his admission, Akinduro repeatedly contacted Oxford Dredging, but his efforts were in vain. He also recounted being treated rudely by the company’s lawyer.
Why Akinduro Was Targeted
Earlier this year, Akinduro told FIJ that he had spoken with a group of aggrieved investors from Oxford International Group, who were planning to find a way to recover their money. Later, Akinduro revealed that the group members contributed funds, which he and another investor used to travel to Abuja, where they presented their case to Benjamin Kalu, the Deputy Speaker of the House of Representatives.
Police Response
When FIJ contacted Frank Omale, the Investigating Police Officer (IPO), he declined to comment on the matter and asked FIJ to visit his office for more information. Omale directed FIJ to the headquarters of the Nigeria Police Force in Abuja for further details.
Attempts to reach Muyiwa Adejobi, the police spokesman, were unsuccessful as he did not answer his calls or respond to a text message at the time of reporting.
