The Economic and Financial Crimes Commission has arraigned businessman Taiwo Sunday before an Oyo State High Court in Ibadan over an alleged N123 million motorcycle supply scam.
Prosecutors say Sunday collected the money through his firm, Yemsund Enterprise, promising to supply multiple units of motorcycles—but allegedly failed to deliver or refund the cash.
The petition, filed by one Oluwarotimi John, claims the businessman presented himself as a major dealer with strong distribution links across Lagos and northern Nigeria.
In court, the EFCC detailed how over N62 million was allegedly diverted in one transaction, with another N62.6 million tied to a separate undelivered order.
Sunday pleaded not guilty.
Justice Kareem Adedokun granted him bail at N2 million with strict conditions, including sureties with landed property in Ibadan and submission of his international passport.
Trial is set to begin June 17, 2026.
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