Lagos Investment Company Employee Arraigned for N90m Diversion, Former Director Sentenced for Theft

Bello Samuel, an employee of an investment company in Lagos State, has been arraigned for allegedly diverting N90 million from the firm's account for personal use. The Police Special Fraud Unit (PSFU) at the Federal High Court in Lagos charged Samuel with conspiracy and money laundering.

The suspect, who worked in the finance department, is accused of fraudulently converting company funds for personal use following a formal complaint. Upon discovering the fraud, Samuel absconded but was eventually apprehended in Ekiti State after attempting to evade arrest.

This incident underscores the importance of internal controls to prevent insider-related abuses. In a related case, a former Lagos State education director, Olawale Feliti, was sentenced to 64 years in prison for stealing N48.992 million from Access Bank PLC.