Man In Custody Over Theft Of N3 Billion Pharmaceutical Products

By Felix Kuyinu 

A 43-year-old man, Oluwafemi Akinsanmi, has been held in custody over allegations of stealing pharmaceutical products valued at N3.3 million.

Akinsanmi was arraigned at the Magistrates’ Court in Ikeja Lagos where the police held that he converted and stole the items and added that he contravened the laws of Lagos State.

The defendant, who is standing trial on a two-count charge bordering on dishonest conversion and stealing, was said to have commited the offence in August 2025 at Visko Pharmacy Limited, Lake View Estate, Phase 2 in Amuwo Odofin area, as disclosed by the Prosecutor, Josephine Ikhayere.

He, however, pleaded not guilty to the charges.

Ikhayere mentioned that the offences contravene the provisions of section 280(b) and 287 of the Criminal Law of Lagos State 2015, after which the Presiding Magistrate, Lateef Owolabi, granted the defendant bail in the sum of N400,000 with sureties in like sum.

Owolabi adjourned the case till April 21.