CYRIACUS IZUEKWE
A 39-year-old man, Nnamdi Okorie, was on Wednesday arraigned before an Ikeja Magistrate Court for allegedly stealing ₦19,810,910 from his employer, Dream Work Integrated Company, over a six-month period.
The defendant was arraigned before Magistrate Mr. L.A Owolabi on a one-count charge of stealing brought by the Commissioner of Police, Lagos State.
Prosecutor, SP Josephine Ihkayere, told the court that Okorie allegedly committed the offence between January and June, 2025 at 36, Adeniyi Jones, Ikeja, within the Ikeja Magisterial District.
According to the charge sheet marked 1.1.176, the defendant allegedly stole the sum of Nineteen Million, Eight Hundred and Ten Thousand, Nine Hundred and Ten Naira Only, property of Dream Work Integrated Company.
The offence is said to be contrary to Section 280 and punishable under Section 287(7) of the Criminal Law of Lagos State 2015.
Section 287(7) specifically deals with stealing and prescribes a minimum of 7 years imprisonment where the value of property stolen is above ₦500,000. Legal experts say the provision was introduced to serve as a deterrent for high-value theft and fraud cases in Lagos.
The charge was read to the defendant in open court. He pleaded not guilty to the allegation.
The prosecutor, SP Ihkayere, asked the Court to give a date for hearing to enable the Police to prove the allegations and present witnesses before the court.
After listening to the submissions, Magistrate Owolabi granted the defendant bail.
The court ruled that bail be granted with two sureties. The Magistrate ordered that the sureties must provide evidence of means of livelihood and proof of tax payment to the Lagos State Government.
This condition, legal experts noted, is now standard in Lagos Magistrate Courts for financial crimes to ensure that sureties are traceable and credible.
However, the Magistrate ordered that the defendant be remanded in custody at the Kirikiri Correctional Centre pending the perfection of his bail conditions.
The matter was adjourned to a later date for mention and further proceedings.
Investigations into the case were handled by officers of Man Centre Police Station, Ikeja. The Divisional Police Officer is CSP Ayodele Elijah, while the Investigating Police Officer was Insp. Ibrahim Manman.
Sources at the Police station told P.M.EXPRESS that the case was reported by the management of Dream Work Integrated Company after an internal audit allegedly revealed discrepancies in company funds between January and June 2025.
The address, 36 Adeniyi Jones, Ikeja, is a commercial hub in Lagos and hosts several corporate offices. Stakeholders say cases of internal fraud have increased in the area, prompting calls for stricter financial controls in companies.
Legal experts who spoke to P.M.EXPRESS said the defendant is presumed innocent until proven guilty by a court of competent jurisdiction.
They added that the prosecution will be required to prove beyond reasonable doubt that the defendant actually stole the money as alleged.
As at press time, the defendant was still in custody at Kirikiri awaiting the perfection of his bail conditions.