EFCC Arraigns Suspect Over Alleged N208M Theft

By Felix Kuyinu

The Economic and Financial Crimes Commission, EFCC, has arraigned one Favour Iwunze at the Ikeja High Court over allegations of stealing the sum of N208,384,000 in Lagos.

The EFCC claimed that Iwunze, who is facing a one-count charge bordering on stealing, stole the sum belonging to a firm, Ogechi Okorie and G- Chinodan Limited, under dishonest means thereby contravening the Criminal Law of the state.

The counts reads: “That you, Iwunze Ikechukwu Favour, sometime between January and December 2024, in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, stole and converted to your own use the sum of N208,384,000.00 (Two Hundred and Eight Million, Three Hundred and Eighty-Four Thousand Naira), being value of several groceries and household items, property of Ogechi Okorie and G- Chinodan Ltd, thereby committed an offence stealing, contrary to and punishable under Sections 280 and 287 of the Criminal Law of Lagos State, 2015.”

He pleaded not guilty.

Nevertheless, the Commission asked the court for a trial date and also prayed for the remand of the defendant in a correctional centre.

Consequently, the Presiding Judge, Mojisola Dada, granted the defendant bail in the sum of N10,000,000 with two sureties in like sum.

Dada ordered that one of whom must undertake that his account will be placed on lien.

The judge also ordered that the defendant’s passport be deposited with the court registrar.

The matter was adjourned till October 30 while the defendant was remanded in a Correctional Centre.