Chappal Energies CEO Faces Theft Charges Over Lexus

Ufoma Joseph Immanuel, the Managing Director and Chief Executive Officer of Chappal Energies Offshore Ltd, is set to be arraigned at the Lagos State High Court, Ikeja, on charges of theft and dishonest conversion concerning a Lexus LX 600 valued at approximately N600 million. The Police Special Fraud Unit alleges that Immanuel conspired with unnamed individuals to steal the vehicle owned by his company.

However, legal practitioners have raised concerns about the legitimacy of the theft charge, arguing that the Lexus remains the property of Chappal Energies. This case is separate from an ongoing criminal trial involving Immanuel and Intermediate Investment Holdings Limited, which began on March 11, 2026, related to allegations of obtaining money by false pretence and forgery involving $1.5 million.

Legal expert Soro Chistiantus emphasized the need for clarity on the transaction details and the nature of the alleged deprivation suffered by the company, suggesting that the situation may reflect a corporate governance issue rather than a criminal act.