EFCC Arraigns Three for Alleged N65.5 Million Theft

The Economic and Financial Crimes Commission (EFCC) arraigned three defendants—Olamilekan Ismail, Idri Jumai Obalowu, and Otun Segun—before Justice Olubunmi Abik Fadip of the Special Offences Domestic Violence Court in Ikeja, Lagos. They are charged with stealing N65,521,000, which was allegedly converted from the sale of Mothercare toys and household souvenirs belonging to Mr. Fumilayo Banir.

The defendants face two counts: one for the dishonest conversion of property and another for conspiracy to commit fraud, violating Section 278(2) of the Criminal Law of Lagos State 2017 and Section 8(1)(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006. Upon arraignment, the first defendant took his plea in English, while the second and third defendants pleaded in Yoruba.

All three pleaded not guilty. Following their pleas, prosecuting counsel F.T.

Giwa requested a trial date and asked the court to remand the defendants pending trial. The counsel for the first defendant did not oppose this request, while the counsel for the second and third defendants indicated plans to file bail applications.