EFCC arraigns two, company over N560m theft in Lagos

The Economic and Financial Crimes Commission (EFCC) has arraigned two individuals and a company before the Lagos State High Court in Ikeja over an alleged theft of N560 million.

The defendants, Olivia Dike and Azeez Muniru Siyanbola, were arraigned on Monday by the Lagos Zonal Directorate 2 of the anti-graft agency alongside Eniafelamo Global Seven Nigeria Limited before Justice R.O. Oshodi.

They are facing a three-count charge bordering on stealing and the alleged conversion of funds belonging to Peachland West Africa Limited and an individual, Iyke Stephen Okpaji.

According to the EFCC, the defendants, alongside one Taoheed Lekan Abdrahman, who is currently at large, allegedly stole and converted to their personal use the cumulative sum of N560 million between July 2024 and February 2025.

One of the charges stated that the defendants “dishonestly stole and converted to your use the cumulative sum of N560,000,000.00, property of Peachland West Africa Limited and Iyke Stephen Okpaji,” contrary to Sections 278(1)(b) and 285(9) of the Criminal Law of Lagos State, 2011.

The defendants pleaded not guilty to all charges when they were read in court.

Following their plea, prosecution counsel, Nnaemeka Omewa, requested a trial date and urged the court to remand the defendants in a correctional facility pending the determination of their bail applications.

Justice Oshodi subsequently adjourned the matter until July 10, 2026, for the hearing of the bail application and commencement of trial.

The court also ordered that Dike be remanded in a female custodial centre, while Siyanbola was remanded in a maximum-security correctional facility pending further proceedings.